Satheesan: Centre unprepared for demonetisation fallout

Published: 15th November 2016 01:46 AM  |   Last Updated: 15th November 2016 02:41 AM   |  A+A-

By Express News Service

KOCHI: KPCC vice-president V D Satheesan MLA has urged the Central and State governments to initiate immediate steps to alleviate the hardships caused to people by demonetisation of the high-value currency notes.
Addressing a press conference here on Monday, Satheesan alleged that the Centre had failed to make arrangements to ensure supply of lower denomination currency notes in adequate numbers, after withdrawing 86.4 percent of the currencies from circulation.
“The cause of the current crisis is short-supply of lower denominations currencies -  Rs 100 and Rs 50. The Central Government should initiate immediate steps to ensure availability of such notes,” he said.

“Ever since the Rs 500 and Rs 1000 denominations were scrapped, people in the State have been struggling to meet even their daily needs. Considering the situation, the State Government should provide free ‘ration’ to the people for one month,” he urged.
“By dispensing the Rs 2000 notes in exchange of old notes, banks have thrown normal life out of gear. The situation in the health sector has become dangerous as private hospitals often deny treatment including emergency surgery to patients due to the cash crisis. The Congress did not question the intention of the Centre in acting against black money. But, the government was ill-prepared to face the consequences of such a massive drive,” said Satheesan, adding that the currency crisis had crippled the perishables market.


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