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Communist Party of India (CPI) Rajya Sabha MP and Party National Secretary Binoy Viswam on Monday said that Justice Nagaratna's observations on demonetisation reflect the "pulse of the nation".
Reacting to the Supreme Court Constitutional bench judgement on demonetisation, Binoy Viswam said that the majority voice reflected the voice of the Modi government. Speaking to ANI, Binoy Viswam said, "The demonetisation stroke in the night was a blow to the foundations of the Indian economy and was proven to be a futile exercise." He questioned the government on the "mellow promises" made by the PM on the end of black money, the eradication of terrorism, and the shift to digital transactions and said that none were realised. "Thousands of industries and businesses were closed, crores of people were laid off, and nearly all of the notes were returned." However, the majority of the judges on the bench refused to see this truth. For the poor and affected, life is the truth," he further stated. CPI Upper House MP from Kerala further criticise the government for keeping the Parliament in the dark about ending black money, terrorism and going digital transaction. "Nothing happens! Industries and shops closed, resulting in the loss of thousands of jobs. SC was least concerned about these factors," he continued to criticise. Supreme Court upheld the decision of the Central government taken in 2016 to demonetise the currency notes of Rs 500 and Rs 1000 denominations. A five-judge Constitution bench dismissed a batch of petitions challenging the Centre's 2016 decision to demonetise Rs 500 and Rs 1000 currency notes and said that the decision, being the Executive's economic policy, cannot be reversed. Supreme Court said there was consultation between the Centre and the RBI before demonetisation. "There was a reasonable nexus to bring such a measure, and we hold that demonetisation was not hit by the doctrine of proportionality," Supreme Court said. (ANI)
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