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Country’s economy now in major crisis: Intelligentsia

Several prominent writers and poets demanded that the Central government should roll back its decision of cancellation of big notes.

Published: 07th December 2016 02:46 AM  |   Last Updated: 07th December 2016 04:43 AM   |  A+A-

By Express News Service

HYDERABAD: Several prominent writers and poets demanded that the Central government should roll back its decision of cancellation of big notes. They also demanded that the government should pay compensation to kin of those who died in bank queues.

In a statement issued on Tuesday, writers and poets including V Vijay Kumar, GS Rammohan, Malleswari, Vara Vara Rao, Prof GN Saibaba, Mahesh Kathi, Jilukara Srinvas, Varalakshmi and others said the decision of demonetisation has pushed the country’s economy into a major crisis. They demanded immediate rollback of the decision as it failed to ensure enough supply of notes.
“Our governance is such that it could not sense what will happen if 86 per cent of the currency notes are cancelled and not replaced,” they said.

The loss due to demonetisation would be around `1.3 lakh crore, they estimated and demanded that PM Modi should make public the scientific reason behind it.

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