Modi has taken people’s money like a pickpocket: Yechury

Communist Party of India (Marxist) general secretary Sitaram Yechury on Sunday attacked Prime Minister Narendra Modi saying he had taken away the money of people like a �pickpocket�.

Modi has taken people’s money like a pickpocket: Yechury

Communist Party of India (Marxist) general secretary Sitaram Yechury on Sunday attacked Prime Minister Narendra Modi saying he had taken away the money of people like a “pickpocket”.

In a facebook post, Yechury accused Modi helping black money hoarders to exchange it with white money and added that the government was “playing fraud” by claiming that the growth rate would be 7.1 per cent despite the note ban.

Yechury’s criticism come a day after the ruling BJP hailed scrapping of old Rs. 500 and Rs. 1000 currency notes calling it as a “sacred movement” that would lead to a clean economy.

Yechury wondered how the saffron party can claim “victory against black money” when the government had not produced data on money that was returned to banks and restrictions on withdrawals continue.

“Modi behaves like a pickpocket, who has picked pockets of the people first, and now says he will come out with welfare schemes,” Yechury said in the post.

Recalling that Modi had, in the run-up to the 2014 Lok Sabha polls, said that 90% of black money was parked abroad, Yechury alleged that the PM is doing nothing on this front.

Yechury expressed apprehension that the end result of demonetisation, with time till March 31 to exchange scrapped notes, could be that banks would have more currencies than they have printed.

The defunct notes can be exchanged at designated Reserve Bank of India (RBI) counters after explaining reason for delay in depositing them by December 30. “This will ultimately see that black money will become white and counterfeit will turn legal currencies,” he claimed.