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PM Modi took note ban idea from Pakistan: Congress MP Veerappa Moily

The budget, too, failed to offer a solution to the problem of job losses in the unorganised sector as a direct fallout of demonetisation, he said

narendra modi, demonetisation, note ban, Congress MP Veerappa Moily, india news, latest news Congress MP M Veerappa Moily speaks in the Lok Sabha in New Delhi on Wednesday. PTI Photo / TV GRAB

SENIOR CONGRESS MP Veerappa Moily claimed in Lok Sabha on Wednesday that Prime Minister Narendra Modi had followed Pakistan in implementing the demonetisation policy. Opening the discussion on the budget in the House, Moily said the three reasons enumerated by Modi for the move — fighting corruption, black money and fake currency — were the same as stated by Pakistan when the neighbouring country took a similar decision in June 2015.

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“It dawned on the Prime Minister that Pakistan has taken a right step. Let’s follow it!” the former Union minister said. He said no other country had opted for demonetisation for these reasons.

The budget, too, failed to offer a solution to the problem of job losses in the unorganised sector as a direct fallout of demonetisation, he said. Taking on the BJP and the government’s narrative — of labelling critics anti-nationals — Moily said, “People who oppose your policies are criminals, black marketeers and anti-nationals, while people who support your policies are called patriot.”

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Claiming that the Prime Minister has “shaken the trust of the people” with his decision to scrap high-value notes, he said, “And now you are not lifting the withdrawal curbs because you fear there will be a run on the banks. The less-cash economy is a disaster…. I hope one day there will be an apology in Parliament for the demonetisation move”.

Indira Gandhi as Prime Minister had brought banking closer to the masses through bank nationalisation, whereas Modi had taken banks away from the poor, Moily said.

Around 2 pm, when TDP MP Jayadev Galla was presenting his views on the Budget, Hukum Dev Narayan, who was in the Chair, had to put proceedings on hold due to lack of quorum. It resumed 10 minutes later as members starting trickling in. Galla, like most MPs from NDA allies, praised demonetisation and the merger of the Railway Budget with the General Budget.

Opposition members, however, pointed out the adverse impact of demonetisation and criticised the Budget for its inadequate allocations despite claims made otherwise by Finance Minister Arun Jaitley.


JD(U) MP Santosh Kumar called demonetisation the government’s attempts to recapitalise the NPA-ridden banking sector. “You make a mistake and everyone has to suffer for 50 days,” he said.

Stating that the impact of demonetisation has been disastrous for the people, CPI(M) member P Karunakaran said the resultant slowdown has hit GDP growth. The House was adjourned with the day’s final speaker, BJP MP from Uttar Pradesh Chhote Lal, launching into a song on the economic growth due to reforms initiated by Modi.

First published on: 09-02-2017 at 05:39:47 am
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