CPI(M) Polit Bureau has issued the following statement May 20, 2023

RBI has withdrawn Rs 2000 note from circulation. The Polit Bureau of the CPI(M) firmly believes that this move virtually reverses 2016 demonetisation, grandly announced by Modi as the answer to India’s problems of black money, corruption, terrorist funding and promoting digital economy. A dismal failure on all counts. Based on earlier experience, rather than cleaning up the stock of black money held in 2000 rupees currency notes, this move has a further potential of legitimising it.

Modi made demonetisation disaster criminally crippled crores of livelihoods, claimed hundreds of lives, destroying the informal economy & MSMEs that contribute most to employment generation and GDP growth.

Cash in circulation is now up 83 per cent since the Modi made demonetisation disaster. Corruption is legalised and grown manifold.  Condemnable terrorist attacks continue to claim innocent lives.

Modi’s destruction of our economy and loot of national assets must be resisted and defeated. Crony-corporate-communal nexus must be rejected. The Polit Bureau appeals to the people to unite for salvaging our economy from such authoritarian unilateral anti-people steps.