Govt, Opposition lock horns over demonetisation in Rajya Sabha

All action on the first day of Parliament’s Winter Session took place in the Upper House, where a combative and united Opposition took on a rather firm government on the issue of currency demonetisation.

The Rajya Sabha set aside all other business to discuss the matter. The debate will continue on Thursday as well, with the Opposition demanding that Prime Minister Narendra Modi respond on the issue.

Expelled Samajwadi Party leader Ram Gopal Yadav and BSP supremo Mayawati highlighted problems faced by farmers and the common people in poll-bound Uttar Pradesh. Both leaders minced no words in criticising Prime Minister Modi.

While offering support for measures aimed at combating black money, the Congress said the Centre had made no provisions to ease the problems of people.

The CPI(M) questioned the “logic” behind the decision and argued that withdrawal of notes would not help in checking terror funding or black money.

The Centre’s stand was explained by Power Minister Piyush Goyal, who is part of the core group of Ministers reviewing the implementation of the demonetisation exercise. Goyal said the Opposition was worried by the public’s appreciation for the programme.

He said the step had been taken in the national interest and would help the country in the long run.

“I am confident that the public understands the initial problems because the decision was kept a secret. No honest taxpayer will lose a single rupee. The loss will be of those who have amassed wealth through corruption and black money, and the public should also support the government in the move,” he added.

The Congress’ deputy leader in the House Anand Sharma, who initiated the debate, termed the government decision as insensitive. He trashed the Centre’s claim of keeping the decision secret, and asserted that the ruling BJP’s “friends” were allowed to deposit cash much before the announcement.

CPI(M) leader Sitaram Yechury said the withdrawal of notes will not help fight unaccounted money. “The Prime Minister is cleaning a pond to kill crocodiles but big crocodiles have survived and only small fishes are dying,” he said.

“SBI has waived ₹7,000 crore from their non-performing assets, of loans which are not being returned,” Yechury pointed out.

In response, Finance Minister Arun Jaitley said writing off a loan did not amount to a waiver. “It does not mean that the loan ceases to be a loan. We will still chase the loan,” he said.

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