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