COMMUNIST PARTY OF INDIA (MARXIST LENINIST) RED FLAG
CENTRAL
COMMITTEE
Nl2-11,
C8,
Sector
9, Nerul,
Navi
Mumbai, Maharashtra
, Pin
400706
Date
11-11-2016
Demonetization:
A blitzkrieg upon the People.
Currency Demonetization done over midnight in the name of black money hunt was a gimmick to hoodwink people to make them believe that the Modi Government is trying to curb black money and fake currency. The real motive is different. It is the desperate move by Modi government and the saffron brigade to gain favourable popular sentiment as elections to legislative assemblies such as in UP and Punjab are round the corner.
The tall claim by Modi Government that it is historic step is an empty boom as such moves on earlier occasions in our history had been proven to be ineffective to stop black money flow. The failure was mainly because of the fact that black money is the shadow of the growing profit-thirst and the shadow grew along as the government policies, especially the present imperialist globalization policies, promoted profit-thirst.
Unlike when British Raj and Morarji Government demonetized currencies in 40s and 70s, the present move is to demonetize the vastly circulated notes. So, it is not at all a targeted operation to zero in the black money-sharks. Instead, the common people were trapped in cashless situation. If the Government wanted to curb fake currency, it would have been done more effectively in a careful and systematic process through banks. So, the argument about the so called "surprise element" is bogus.
Besides, the fact that the biggest chunk of black money is not in note form has made the move all the more foolish. The darkest irony is that the Government has the list of the names of the Swiss bank account holders at its hands!
So, to hunt and curb black money and seal the sources and streams of it need a Macroeconomic policy decision and its systematic implementation, making use of the list of the names of the Swiss bank account holders . Modi Government is not at all able to do that. Neither it has the will do it.
The present "blitzkrieg" is a cheap stunt. It is to put on an attire of a 'champion' without any action of mettle.
We demand to the Central Government to take immediate steps to alleviate the inconvenience that its farcical misadventure has inflicted upon the people.
Central
Committee.
(SIGNATURE)
M. S JAYAKUMAR
General Secretary