Wednesday, November 23rd, 2016

CPIM moves Supreme Court against demonetisation

Narada Desk | November 23, 2016 4:00 pm Print
In a writ petition party general secretary Sitaram Yechuri has appealed the court to direct the Government to allow people use old currency notes till December 30th, 2016, the last date for depositing demonetised notes, or until adequate supply of new currency notes, whichever is earlier.

The CPI M has approached the Supreme Court against the demonitisation drive by the NDA government.  In a writ petition party general secretary Sitaram Yechuri has appealed the court to direct the Government to allow people use old currency notes till December 30th, 2016, the last date for depositing demonetised notes, or until adequate supply of new currency notes, whichever is earlier.

He has also sought that an order should be issued to the government to reveal the measures taken by the government to supply adequate amount of currency notes in time. The petition stated that the government was not prepared for a decision of demonetisation  and it acted in a completely haphazard manner. “The sheer number of notifications and circulars being issued one after another since 8 November, unerringly demonstrate that the respondents are into a trial and error mode, at the cost of life of ordinary people. The summery demonetisation has resulted in total disruption of the payments and settlements that are part of daily life of the daily wage labourers, fishermen, small businessmen, street vendors, poor people working in the informal sector and lakhs of similarly situated persons.” The petition also stated that the decision of the government to introduce new notes of Rs 2,000 denomination is against the very object of demonetisation, as legal and illegal cash-based transactions are likely to resume with the new Rs 2,000 notes. The CPIM, in its petition said that the cooperative sector of the country is an immediate victim of the summery demonetisation. “The cooperative banking sector, which deals with rural economy, has been severally crippled by virtue of this summery act,” it said.

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