The hasty decision of demonetization without any preparation is causing great discomfort to Citizens

Amritsar, November 15 (Punjab Post Bureau)- The hasty decision of demonetization without any preparation and necessary measures is causing great discomfort to the Citizens. Gurjeet Singh Aujla in statement issued here today said that previous Congress governments worked and toiled hard to keep the credibility of the Indian currency intact in the international market, but Modi government in a fit to benefit few industrial houses took this step and the credibility of Indian currency in the international market has deteriorated to a nil. Aujla said that Congress governments had discontinued 500 rupees denomination note without causing any inconvenience to the masses. Modi’s policy has created Greek and Syria like situation in country and the society is advancing towards civil conflict. He said Congress supports every step government takes to control black money but if such a measure causes unbearable misery to the masses than Congress has to oppose it. Aujla said that banks, ATMs, Post offices etc. in spite of functioning overtime has failed to cater to the needs of the people.

Quoting Kaushik Basu’s forecast that”collateral damage” wrecked by Modi’s move is likely to outstrip its benefits, Aujla said that it seems as if Modi government is trying to cover up some big blunder it has done under the cover of demonetization chaos.Kaushik Basu is the former chief economist for the World Bank.

Aujla said that Modi’s move has opened new ways for black moneymakers. US dollar is being sold at Rs. 80 onwards whereas its actual cost is around Rs. 67. Gold is being sold at Rs. 45000 whereas actual cost is a lot less. Old currency bills of Rs. 500 and Rs. 1000 are being exchanged by business houses, shopkeepers for an illegal fee of Rs. 100 to Rs. 300 per bill and the sufferers are the middle and lower class people and hundreds of thousands of ordinary people (including farmers who do not even have back accounts) who hold cash but not black money are caught out and the fear of harassment by officials could trap them in a bureaucratic net they don’t know how to deal with.

Aujla further said that the government has imposed no check on the choices of currency exchange available with religious organizations and the ways some corrupt people can employ to use such organizations to exchange their black money for new bills that too without any check and restraint. Pointing towards politico-religious organization and its controllers Aujla alleged that Modi government has given a safe passage to hits alliance partners to use the organization’s unlimited resources to change their black money and use it in the forthcoming elections. Aujla demanded that either this system be made fool proof and impenetrable even by the ruling elite or roll it back in favor of those who have been suffering since the day of its announcement.