The issue of black money has rocked the parliament again. The oppostion demands an apology from the PM Narendra Modi now. They did not allow the house to function. The ruckus continued.
“Those criticising demonetisation don’t have a problem with the government’s preparedness; their problem is that they didn’t get time to prepare,” said the Prime Minister at a function this morning.
“PM today said that opposition is favouring black money, this is a serious allegation against the entire Opposition, he must apologise,” Congress leader Ghulam Nabi Azad said in Rajya Sabha.
Echoing the Congress’ demand, Uttar Pradesh politician Mayawati said, “PM must come to House and apologise…, he must also clarify who has the black money.”
PM Modi attended parliament on Thursday where opposition leaders, including his predecessor Manmohan Singh, sharply criticised the government’s sudden abolition of 500 and 1,000 rupee notes on earlier this month.
Dr Singh said that while he agreed with the intent of the demonetisation move, the implementation was a “monumental management failure” that would knock two percentage points off the country’s growth.
Since the winter session of parliament began last week, the opposition has attacked the government for failing to anticipate the shortage of cash that has eclipsed the country since the notes were cancelled with just a few hours of notice.
Opposition leaders have been demanding a statement from the PM over demonetisation. Finance Minister Arun Jaitley on Thursday said the PM will speak on the issue in parliament.
The government has stopped the exchange of old notes over the counter at banks from Friday. People will now have to deposit banned notes of Rs. 500 and Rs. 1,000 in their accounts and then withdraw new currency from ATMs or through cheques.
The centre also announced that some of the exemptions that are in place for the use or exchange of the old currency notes would be extended till December 15. However, the exemptions would only accept the use of the old Rs. 500 notes. This means Rs. 1,000 notes will now be accepted only for deposits into bank accounts.
However, the exchange of old notes will continue at the Reserve Bank of India, the central bank has said in a statement this morning.
