Protest against Demonetisation by Modi Government
On November 8th Prime Minister Narendra Modi made a dramatic announcement on television declaring
that currency notes of denomination 500 and 1000 won’t be legal tender will immediate eff ect. He explained
that the strict decision was taken in order to stop “black” money circulation. However, we believe that
this move will adversely aff ect the lives common people. We strongly condemn the “undeclared nancial
emergency” and pose a few questions to this government.
• Before the elections in 2014, present BJP government promised, that if elected the government will
bring all of “black money” kept in Swiss bank accounts. Till now no initiative has been taken on the
part of the government to bring back the “black money” even after the names of Swiss bank account
holders have been revealed more than a year back. Why is this hypocrisy?
• To recover unaccounted money the government has income tax deparments which run on tax payers
money, to deal with the problem. Then, why is the Modi led government forcing common people to
face such inconvenience?
• According to reports by government officials, 44 corporate borrowers had taken loans of more than
5000 crore each from Public Sector Banks and the total outstanding amount is nearly 23.52 lakh
crore. What is the government doing about this huge amount of money that has been taken from
the pockets of the common people?
• What steps are taking against defaulters like Lalit Modi and Vijay Mallya who have outstanding
amounts of worth lakhs of crores?
• The government has waived taxes for big corporate houses which has helped them to amass huge
wealth. Is this a new precedent shown by the government to convert “black money” to “white”?
• The fi nance minister mentioned that increase in tax revenues will ultimately help the poor. But
all we can see is a decrease in government spending in education, health and transport which are
basic necessities of the people. How is this going to help underprivileged? Is the goverment at all
trustworthy?
• Nearly half of the population do not have bank accounts. The most worst hit are the daily wage
earners and vendors who has to stand in long queues leaving their work. Workers at tea estates
haven’t been paid their wages because of the currency crisis that followed. Several cases of suicide
mostly by farmers and middle class members of the society has also been reported. How is the
“surgical strike” on “black money” the poor?
• Small businesses and their middle class families who haven’t disclosed their income information will
come under the scanner of the government. However, most are from middle class backgrounds. Why are they taught lessons while big defaulters are enjoying life abroad?
• Plastic money is now prefered instead of liquid cash which might not protect the poor from global
economic meltdown like the financial crisis in 2008. What steps is the government taking in order
to ensure economic security to the financially weak sections of the society?
We can very well see that the mask of Modi government has slipped o ff and it has shown its true Hindutva agenda that it wants to serve ruthlessly going against interests of the common masses. We call for all democratic organisations and individuals to protest against the “undeclared financial emergency”.
Published on behalf of United Students’ Democractic Front (USDF) by Soumo Mondal (General Secretary) and Sidhartha (President)