Demonetisation: CPI(M) for adjournment motion in Parliament

The CPI(M) today proposed to bring an adjournment motion in Parliament with regard to demonetisation of Rs 500 and Rs 1,000 notes and introduction of the new Rs 2,000 note by the Union government.

"We propose to bring an adjournment motion in Parliament on demonetisation of Rs 500 and Rs 1,000 notes and introduction of Rs 2,000 rupee note by the Centre," CPI(M) General Secretary Sitaram Yechury said.

He said the government's sudden announcement had resulted in day-to-day transactions of traders coming to a halt, stoppage of movement of goods and lorry transport.

Yechury said the Union government should at least ensure that the demonetised notes be allowed for transactions till December 31.

"The government's claim that the move will eradicate black money is nothing but a farce. Black money hoarders have kept their currency and gold in foreign banks," he said.

Prime Minister Narendra Modi had announced demonetisation of Rs 1,000 and Rs 500 banknotes with effect from midnight of November 8 in a major assault on black money, fake currency and corruption.

The CPI(M) leader also said his party will oppose tooth and nail any move to impose a Uniform Civil Code.

Yechury was speaking to reporters after visiting M D T Hindu school, the alma mater of national poet Subramania Bharati here.

The CPI(M) leader sat for a few moments in the classroom where Bharathi attended classes.