India can't forgive Modi government for 'anti-national' act: CPI(M) on demonetisation

NEW DELHI: The CPI(M) today launched a stinging attack on the Centre over demonetisation, saying India can "never forgive" the Modi government for the "anti- national act", which allegedly hit the country's economy.

CPI(M) general secretary Sitaram Yechury said this after the Reserve Bank of India's ( RBI) annual report for 2016-17 today revealed that all but 1.4 per cent of the scrapped Rs 1,000 notes have returned to the banking system.

Taking to Twitter, Yechury sought to know the aim of the move, implementation of which allegedly saw 100 deaths even as the poor "suffered the most" because of it.

He also reiterated that demonetisation's stated objectives of combating corruption, black money, counterfeit currency and terrorism have all "fallen flat".

"99.9% of the notes back in the banking system. 100s died in queues. The poor suffered the most. All this for what? "Lives & livelihoods lost, the Economy got a shock, workers lost their jobs. India can never forgive Modi govt for this anti-national act," Yechury tweeted.

In the report, the RBI said that out of the 632.6 crore pieces of Rs 1,000 currency notes in circulation, 8.9 crore have not been returned post the note ban, announced on November 8 last year.

The government had invalidated the old Rs 500 and Rs 1,000 notes in an attempt to weed out black money in the country. The old notes were allowed to be deposited in banks, with unusual deposits coming under income tax scrutiny.