Yechury slams PM over silence in Parliament, calls ‘Narendra Moun Modi’

CPI(M) leader's comments at a time when the former PM criticised the currency ban saying it was "a case of organised loot and legalised plunder"and shown a "monumental management failure"
Kolkata: CPI-M general secretary Sitaram Yechury (Photo: IANS)

CPI(M) General Secretary Sitaram Yechury on Saturday called Prime Minister Narendra Modi as “Narendra Moun Modi” for being silent in Parliament on demonetisation debate. He supported the statements of former Prime Minister Manmohan Singh in Rajya Sabha on the currency ban.

“Mr Narendra Modi used to call Manmohan Singh “Moun Mohan Singh” – that he doesn’t open his mouth. In this Parliament session, the tables have reversed. Manmohan Singh spoke rather eloquently and it was Modi who was sitting silent and did not come back to Parliament after the break, ” Yechury told reporters in Bengaluru.

CPI(M) leader’s comments at a time when the former PM criticised the currency ban saying it was  “a case of organised loot and legalised plunder”and shown a “monumental management failure”.

Yechury said the demonetisation move would have a deep impact on the economy and at least six months were needed for the things to settle down.

“It will take 175 days – it means six months – to actually bring back the economy to a level which was there prior to the November 8 announcement. It will have a very deep impact on the Indian economy for medium term,” CPI(M) leader said.

“Black money is not always a stock. Only five to six per cent is as stock. Much of the black money is a flow. It is in real estate and jewellery,” Yechury added.

Yechury reiterated his stand on black money unless there was a close monitoring on corporate funding to political parties. He called for state funded elections to eradicate black money.

“If you want to stop corruption, block the supply side of corruption. Why are you not stopping corporate funding to political parties? Let there be a system of state funding of elections. Unless you do this, how can you check this sort of black money?” he asked.