HYDERABAD: The Congress has demanded that RBI governor Urjit Patel quit his post accepting responsibility for the “mess” created in the country by executing the “unplanned” demonetisation move.
Stepping up the pressure on the Centre over demonetisation, Congress held yet another rally and dharna in front of RBI regional headquarters at Saifabad here on Friday.
Keeping aside their internal differences, senior leaders TPCC president N Uttam Kumar Reddy, Congress Legislature Party (CLP) leader K Jana Reddy and former TPCC president Ponnala Lakshmaiah led the protests in which workers of Youth Congress took part.
Later, the TPCC chief submitted a representation to RBI regional director R Subramanian, urging the financial regulator to lift all restrictions on cash withdrawals by people.
“The RBI and the Modi government should issue a white paper and answer all the questions raised by the Congress on behalf of people,” the party said in the four-page memorandum.
Uttam Kumar Reddy alleged that the “unplanned demonetisation” move had badly hit the country’s gross domestic product (GDP). According to him, the Centre for Monitoring on Indian Economy (CMIE) had assessed the first 50 days’ loss due to demonetisation at Rs 1.28 lakh crore.
In a report published on January 16, the International Monetary Fund (IMF) predicted a 1 per cent decline in India’s GDP during the current fiscal year. This would mean a loss of Rs 1.50 lakh crore.
As per IMF’s report, India has lost the tag of ‘fastest- growing economy’ to China. Even the report dated January 17 of World Economic Forum downgraded the country’s position in ‘Inclusive Growth & Development Index’ to 60 among 79 countries.
AICC secretaries RC Khuntia and G Chinna Reddy, AICC leader Anil Shastri, TPCC working president Mallu Bhatti Vikramarka, senior leaders Marri Shashidhar Reddy, Mohammed Ali Shabbir, V Hanumantha Rao, T Jeevan Reddy, DK Aruna and others, along with Youth Congress president Anil Kumar Yadav took part in the protest.