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February 6, 2017

Demonetisation the most senseless, cruel, heartless and reckless step since independence: Trinamool in LS

Demonetisation the most senseless, cruel, heartless and reckless step since independence: Trinamool in LS

Speaking during a discussion on the Motion of Thanks on the President’s Address in Lok Sabha, Trinamool MP Saugata Roy said that demonetisation is the most  senseless, cruel, heartless and reckless step taken by a govt since independence.

He slammed the government over demonetisation, political vendetta, rising intolerance in the country, deaths due to railway accidents, Maoist attacks, law and order situation in Jammu & Kashmir and foreign policy vis-a-vis China and Pakistan.

‘Ardh Satya’

He called the President’s speech ‘Ardh Satya’ as it does not mention most of the important issue facing the nation. He expressed concern over the protectionist policy of US which may create problems for trade and industry in India; Saugata Roy expressed solidarity with IT technologists working in the US. He also felt worried about the China-Pakistan axis being active against India.


He teared into the government on the issue of demonetisation. He said, “Demonetisation has destroyed the financial structure of our country. Why did you have to kill whole economy to get black money”? He added, “Ninety per cent of our people use currency notes, 45% of our economy is informal. Sir, you know the Prime Minister talks about digital economy. The total number of credit and debit cards in this country of 125 crore people is 9 crore. There are only 1.36 lakh bank branches in this country, only 2.18 lakh ATMs. Now, in a country which has 5.5 lakh villages, with this few debit and credit cards, with this few ATMs, how can you say that the economy will go digital? It has killed lives”

Saugata Roy demanded to know ow much of black money has been deposited in Rs 1000/500 notes? He said the RBI Governor could not provide the answer. The RBI Governor could not tell us how much time is required to remove the restrictions on withdrawals, he added. Calling demonetisation a surgical strike on the people of India, he said GDP will fall because of the reckless step and that people will respond to this action.

Political Vendetta

Terming the arrests of Trinamool’s Leader in Lok Sabha, Sudip Bandyopadhyay, and MP Tapas Pal as political vendetta, Saugata Roy said Centre is misusing agencies like CBI because the party, led by Mamata Banerjee, has been vocal against demonetisation from Day 1. Saugata Roy said the party will fight against political vendetta on the streets and people will ultimately throw this government out of power. He demanded to know why investigation was not being allowed into the Sahara diaries.

Bank NPAs

Saugata Roy made a mention of the crisis in banking sector, highlighting that total NPAs of banks stands at whooping Rs 8 lakh crore. He wondered how Vijay Mallya and Lalit Modi were allowed to flee the country. He added that the President’s speech does not mention the word ‘unemployment’ and that the country is facing a crisis in private sector investment.

Law and Order

Saugata Roy criticised the government over the increased incidents of Maoist attacks in the country. He also highlighted the absence of any mention of ‘intolerance’ in the President’s speech. “Dalits were attacked in Gujarat. In Karnataka a rationalist was killed by Hindu extremists,” he said. Saugata Roy also spoke about the violence in Jammu & Kashmir in 2016 following the encounter of Burhan Wani. He attacked the government, which champions itself over women empowerment, over the fact that only Rs 400 crore out of Rs 2000 crore Nirbhaya Fund was in implementation stage.


Click here for the full transcript of his speech.