इंडियन आवाज़     26 Feb 2024 05:18:02      انڈین آواز

Demonetization Impact Paralyses Indian Parliament

Unrelenting run on banks by people to exchange notes and withdraw cash


Government’s demonetization measure came under attack for the 2nd successive day today as both bouses of parliament adjourned for the day without transacting any major business as a united opposition stalled the proceedings asking for a discussion with voting in the lok sabha and demanding in the rajya sabha that the prime minister be present during the discussion even as queues before banks counters and ATMs to draw out cash for daily needs was unrelenting.

The Lok Sabha conducted the question hour amidst sloganeering by the opposition and post noon there were disruptions as government declined to bow to opposition demand for discussions with voting while in the rajya sabha opposition descended on the well leaving no option for the chairnan. In the Lok Sabha the Left parties, Congress, Trinamool Congress and others had given 21 adjournment notices on the issue of demonetisation in the House. Both houses will no reconvene at 1100 hours on Friday.

Parliament of India
“We are ready to discuss any issue, there is nothing to hide. We want the Congress to clarify, are they with the government decision or not? You’ve got every right to make demands, and the government will reply to it all,” Union Minister for I and B and parliamentary affairs has been repeatedly telling the agitated opposition.

Barring Trinamool Congress, no opposition party has demanded that the government withdraw the notes ban, but have severely criticized what they called the unpreparedness of the government to handle the fall out of the decision on demonetization by not adequately stocking banks with currencies. People are suffering even after nine days of government announcement due to the acute cash crunch, they charged.

Government Ministers had sought to repeatedly reassure both houses that the radical step was in national interests and that the honest tax payer would not be at a loss. They rejected opposition allegations of leak of information and said that the entire nation was taken by surprise which explained the run on banks by the people.
Outside parliament, TMC leader Ms Mamta Bannerjee, West Bengal CM and Delhi CM Arvind Kejriwal staged a dharna outside the federal bank, R|BI and have given notice for a joint rally at azadpur mandi, a leading whole sale market, for which permission si yet to be given.

|Meanwhile, Economic Affairs Secretary Shaktikanta Das announced several new measures in connection with the fallout of demonetization providing relief to farmers and those engaged I the wedding season. To enable more people to surrender high denomination notes to the government in exchange for the demonetized notes of rs 500 and rs 1000, the government has restricted the exchange over the counter to rs 2000 at one time per person.

In a major relief for farmers ahead of the onset of Rabi season, Economic Affairs Secretary Shaktikanta Das Thursday announced that farmers can withdraw up to Rs 25,000 per week from the payment they receive for agriculture produce in the form of cheque or RTGS. Further, the government has decided to increase the time limit for payment of crop insurance premium to 15 days. “Government has decided that time limit in crop insurance premium cases will be extended by 15 days,” Das said.

The Finance Ministry will also allow registered traders atmandus tio withdraw upto rs 50,000 per week to meet labour costs . All the accounts of farmers and traders must be Know Your Customer (KYC) compliant, Das said.

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