Demonetization ruined economy: Uttam

  • Congress takes out massive protest rally

Hyderabad: Telangana Pradesh Congress Committee (TPCC) President N. Uttam Kumar Reddy has alleged that Prime Minister Narendra Modi has ruined the country’s economy with demonetization. He also slammed Chief Minister K. Chandrasekhar Rao for supporting the note ban.

Addressing a massive rally, organized by ex-minister Danam Nagender from Charminar to Gandhi Bhavan on Thursday, Uttam Kumar Reddy said that the note ban proved to be a surgical strike on small and medium businesses, traders and common man. He said no section of the society was spared and demonetization has crippled everyone. He said that the Congress party has organised the rally to protest against the inconvenience caused to people and the indifferent attitude of government towards the sufferings of common man.

Uttam Kumar Reddy alleged that the Prime Minister implemented the demonetization decision without understanding its consequences. The decision stripped common people of their rights over their own money and they were forced to stand in long queues to withdraw their hard earned money. He accused Modi of derailing the country’s economic growth whose pace was well set during the regime of Congress-led UPA Government.

The TPCC chief questioned Modi’s silence over 50-day deadline. He said that the Prime Minister himself had promised to face any punishment if he fails to relieve people from the hardships of demonetization within 50 days. However, at the end of 50-day deadline, Modi delivered a disappointing speech and did not even mention anything about lifting restrictions on withdrawals from banks and ATMs. Even after 55 days, there is no change in the situation and people are standing in long queues at banks and ATMs to withdraw cash.

Uttam Kumar Reddy accused KCR of mortgaging the interest of Telangana by extending his support to Modi’s note ban move. Quoting the speech of SC Welfare Minister Jagadish Reddy in the State Assembly on Wednesday, he said that the State government was blaming demonetization for delay in clearance of fee reimbursement dues which would directly impact nearly 20 lakh families, including 14 lakh students. Similarly, TRS government is blaming demonetization for not clearing the crop loan waiver dues. He feared that all developmental activities would come to a halt under the impact of note ban. He demanded that the Chief Minister come up with complete details of impact of demonetization on Telangana State.

The rally was also addressed by a host of senior Congress leaders, including ex-Union Ministers S. Jaipal Reddy and Balram Naik.

Addressing the meeting at Gandhi Bhavan after the huge rally, Jaipal Reddy alleged that the demonetization decision was a mad decision. The Prime Minister was still trying to fool the people though the people were facing a lot of hardships. He demanded the Prime Minister to tender apologies at least now admitting his mistake. — NSS

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