Demonetisation was assault on nation’s unorganised sector: Rahul

New Delhi, September 3 

Congress chief Rahul Gandhi on Thursday mentioned demonetisation was an assault on India’s unorganised sector and the nation must battle it collectively after recognising it.

He additionally mentioned the choice to scrap high-value foreign money notes was an assault on the nation’s poor, farmers, labourers and small shopkeepers.

Speaking on the financial system within the second a part of his video collection on social media platforms, Gandhi alleged that Prime Minister Narendra Modi needs to make India a cashless financial system whereas mentioning that the unorganised sector, which contains the poor, farmers, labourers and small merchants, works on money.

“Demonetisation was an assault on India’s poor, its farmers, labourers and small shopkeepers.

“Demonetisation was an attack on India’s unorganised economy and we must recognise this attack. The entire country will have to fight against it together,” he mentioned.

On November 8, 2016, the prime minister introduced demonetisation, making previous Rs 500 and Rs 1,000 foreign money notes ineffective, and the whole nation stood in entrance of banks to deposit their cash and financial savings.

Gandhi claimed that the transfer neither erased black cash nor did the poor profit from it.

“So who got the benefit? The advantage was given to India’s biggest billionaires. How? The money that you had in your pockets, that you had in your homes was taken away and used by the government to waive the debts of these people,” he mentioned, noting that this was simply one of many objectives.

“The second goal was to wipe out cash from the system. Our informal sector, which is the sector of the unorganised economy, runs on cash. Whether it is a small shopkeeper, farmer or labourer, he or she works with cash.   “The second purpose of demonetisation goals to wipe out money from the system, together with from the casual or unorganised sector. The prime minister himself mentioned he needed a cashless India, but when there’s a cashless India, the casual sector can be destroyed,” the previous Congress chief mentioned.

He mentioned farmers, labourers, small shopkeepers, small and medium companies, who had been depending on money, have suffered as a result of this.

The Congress has stepped up its assault on the federal government after the nation’s financial system suffered its worst stoop on file in April-June, with the gross home product (GDP) contracting by 23.9 per cent because the coronavirus-related lockdowns weighed on the already-declining client demand and funding.

The GDP contraction on this planet’s fifth-largest financial system in contrast with a 3.1-per cent development within the previous January-March quarter and a 5.2-per cent enlargement in the identical interval a 12 months in the past, in response to official information launched on Monday.–PTI 

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