Congress leader Harikesh Bahadur hails demonetisation move

NEW DELHI: A senior Congress leader today hailed the demonetisation of high-currency notes insisting that it was a "correct and a necessary measure" to restore financial discipline and to unearth black money.

Harikesh Bahadur, a former member of the Congress Working Committee, told that the move by the Modi government would unearth black money and act as a deterrent for generation of black money.

Noting that people should brace for "minor hardships for some time" for development and prosperity of the nation, he wanted the government to device effective measures to reduce the problem being faced by common man.

"The decision to ban Rs 1000/Rs 500 currency notes is a correct and a necessary measure to restore financial discipline and regulate the economy. It will unearth black money and act as a deterrent for generation of black money," he said.

"All citizens should prepare themselves to tolerate minor hardships for some time for development of the nation and prosperity of the people. At the same time the government must device effective measures to reduce the problem being faced by common man," he added.

Bahadur's remarks came on a day when Congress and TMC leaders are meeting here to chalk out a united fight against the demonetisation move during the Winter Session of Parliament commencing on November 16.

Congress and TMC, besides other opposition parties like CPM, CPI, SP and BSP have accused the government of taking the decision in haste and without proper planning and caution, leading to harassment of the common man.