PM Narendra Modi calls Cabinet meeting over demonetisation ruckus in Parliament
This is the second cabinet meeting since Wednesday, which clearly shows that the Modi-led government was not fully prepared before announcing the ban on Rs 1,000 and Rs 500 currency notes
Prime Minister Narendra Modi called a Cabinet meeting on Thursday night over the demonetisation issue after protests by the opposition led to a logjam at Parliament. This is the second cabinet meeting since Wednesday, which clearly shows that the Modi-led government was not fully prepared before announcing the ban on Rs 1,000 and Rs 500 currency notes. There have been numerous reports in the media about people losing their lives due to the taxing conditions created by demonetisation drive.
The cabinet meeting was called at a very short notice. It's possible the meeting will witness discussion over the 200 per cent penal tax that is keeping away banned Rs 500 and 1000 notes from being exchanged for new currency or deposited in the banks.
News reports claimed that the meeting has been called to find a solution to help abate the nervous situation created due to the said penalty so that the soon to turn redundant currency notes are not wasted, citing sources.
Opposition parties have strongly attacked the decision by Narendra Modi government in Parliament and protested outside of it against the sudden decision stating that it has caused a great deal of inconvenience to the common man. Former Prime Minister Manmohan Singh, in a sharp attack, stated that while he does not disagree with the objectives of the note ban, its implementation is "a monumental management failure". In a sharp rebuttal to Dr Manmohan Singh, Finance Minister Jaitley said, "It is disappointing to hear from people who were in charge of the government when the most black money was generated, most corruption scandals came to the fore."