PM Narendra Modi ’Ready to speak in Parliament’ on notes ban, says BJP

Mangalore Today News Network

New Delhi, Dec 07, 2016:  Confronting criticism from the opposition and experts about its sudden drive to cancel 500- and 1,000-rupee notes, the BJP today claimed vast public support for its demonetisation drive. A resolution adopted by the party’s lawmakers welcomed the people’s backing of the reform introduced a month ago, on November 8, to flush out black money.

The BJP’s fist-bump for its reform comes as the winter session of parliament has been largely paralysed with the opposition attacking the government over its move.  First, parties wanted Prime Minister Narendra Modi to explain his decision, stating an outline from Finance Minister Arun Jaitley would not suffice. After the PM agreed to comment, the opposition said what it really wanted was an apology from him for the hardship caused to lakhs of people.

The abrupt withdrawal of 86% of the notes that were in circulation was followed by insufficient new bills, which has plunged the country, particularly rural India, into an exacting cash shortage. The government has taken a series of steps to minimize pain points for farmers by offering special loans and permitting the use of the outlawed notes to buy seeds. But rural banks complain they don’t have enough cash to disperse and farmers are worried about falling behind schedule on their winter crops.