Opposition plans demonetisation 'betrayal' campaign

NEW DELHI: Opposition parties are planning a combined nation-wide “betrayal” campaign against the NDA regime following the RBI’s announcement that almost all demonetised currency have returned to the banking system. This belies the ruling establishment’s argument that the currency-recall will lead to large-scale unearthing of black money, curtailing of counterfeit notes and terror funding.

Some senior Congress leaders on Thursday reached out to their counterparts in other Opposition parties to float the idea of launching a counter-campaign on the very demonetisation plank that the Centre and BJP had been unleashing.

Sonia Gandhi may soon convene a meeting of Opposition leaders to frame the action plan, a Congress source said.

The CSO data on Thursday showing India’s Gross Domestic Product (GDP) growth sliding to a three-year low of 5.7% during the first quarter (April-June) has further sharpened the Opposition resolve as the currency-recall “has delivered long-term damage to India’s growth story”.

The Opposition feels that the ambitious demonetisation venture around which the ruling establishment created a massive hype has now turned into “the biggest political and administrative miscalculation” that has “dented the credibility of the PM” and has hit politically-sensitive social segments such as rural and informal economy, medium and small-scale industry, resulting in loss of jobs and income, as people had to face cash crunch in banks and ATMs.

The Opposition is now planning to project the ‘demonetisation disaster’ as the root cause for farm distress, farmers’ suicides, economic stagnation and social strife.

Stepping up the attack, former Commerce and industry minister Anand Sharma accused the PM of making “false claims” during the Iday address about unearthing huge amounts of black money. “The Prime Minster has pushed the country into this demonetisation disaster, delivering a crippling blow to the Indian economy and causing miseries to the people. This has been the biggest scam. He must own up responsibility,” Sharma said.

CPM leader Sitaram Yechury said, “All data shows that the informal sector, agricultural sector and rural market have collapsed. The government must fix accountability for this disaster and punish those responsible”.