Communist Party of India  (Marxist Leninist) Central Committee Statement:

A futile Exercise at the Expense of People
The Prime Minister Narendra Modi with a stroke of pen withdrew 85 per cent in value of the currency 
from circulation which is around Rs.15 lakh crores. 
This announcement of demonitisation of
Rs.500 and Rs.1000 currency notes is not going to yield the declared result of curbing black money, fake notes, 
corruption and finances to terrorists.
These declared objectives are only a disguise to conceal from the people 
the real intentions – covering up its failure in economic front, bail out of banking system that is facing liquidity crisis, 
and obtaining political mileage.

It is yet another measures to lay the burden of crisis on the backs of people and saving the real culprits – big bourgeoisie, 
big business, 
money-launderers etc.

For these ostentatious purposes the BJP government put more than a billion people to great hardship.

The people’s lives came to a grinding halt with total disruption of payments and settlements.

The long 
waiting lines at the banks testify 
that daily wage earners, 
toiling women, 
small businessmen, 
small traders and hawkers held their hard earned money in demonitised notes.

Unimaginable hardships 
are being faced by nearly 80% of Indians 
who don’t have access to banks, 
or don’t depend on banks 
for their daily lives.

The ordinary man is denied daily wage, 
denied access to his savings and 
denied basic needs of food 
which he buys every day.

The peasants having a bank account 
go to bank to exchange 
the notes in their hand, 
their money will be sucked into the loan 
they owe to the bank.

In a week, 
as the press reports reveal, 
45 deaths occurred 
due to non-availability of medical services 
for lack of currency.

The action by the government sans genuineness as the government and RBI surely knows that demonitisation will not make any dent on black money because its sources of generation left untouched; 
they are under- or over-invoicing, 
non-authentication of capital deployment and tax evasion.

The BJP government wants the people to believe that black money is stashed in bath rooms and in pillows, 
which it knows is not the reality.

Only 5 per cent of the black money is held in currency notes 
while most of it held in benami assets.

During the elections, 
Modi made a promise to bring black money stashed in foreign banks and deposit 
it to the tune of Rs.15 lakh for every family.

Nothing happened in this regard, 
except giving amnesty to tax evaders, 
who were assured through this scheme to have good sleep even after continue to evade taxes 
until another amnesty scheme is announced. 

The CPI(ML) demands 
that the government make public and 
take action on those 
who held undeclared bank accounts 
in tax heavens and those refusing 
to repay giant loans 
taken from the nationalized banks, 
if it really committed to curb the black money.

The people are seeing through this game. 
They are determined not to be duped 
by these fake exercises and 
they will fight against the exploitation and attacks on their lives.

                         #General secretary 


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