This Why Justice Markandey Katju Is Upset About Modi’s Move To Scrape Currency Notes

11:18 pm 10 Nov, 2016


Markandey Katju wants PM Modi-led government to withdraw the recent move of scrapping Rs. 500 and Rs. 1000 currency notes as it creating chaos and problems for the ordinary people.

In a facebook post, the former chairman of the Press Council of India, wrote that Modi government should
immediately revoke this harebrained, asinine, madcap and reckless order.

He said,”At first many witless people were praising you, without realizing its practical implications, thinking you have by one stroke solved the problem of corruption and black money, but as they are now experiencing the follow out of this scatterbrained idea of yours and are feeling the pinch they have begun cursing you.”

He argues because of this measure, hawala dealers have been created in large numbers.

Katju explains,”Everyone deals with 500 1000 rupee notes, because its purchasing power is the same as that of a 100 rupee note or so only a few years ago ( because of rapid inflation )..Because of your nitwit order, hawala dealers have been created in large numbers, who are doing flourishing business. These people will take a 500 rupee note and give 4 hundred rupee notes.”

Katju further said that people have been standing in long queues at banks, some can’t even get taxis, shopkeepers are in distress, and other such things.


“One person spoke to me from Mumbai and said he wanted some bottles of bisleri water for 200 rupees for drinking purpose, but could not get it because he had no hundred rupee notes, only a 500 rupee one.”

He asked Modi government to catch ‘big sharks’ who have huge amount of black money stacked in foreign banks and to stop harassing the common man in India.

 

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