19.1.17

Demonetisation like dropping N-bomb on economy: Saamna

The Sena newspaper, Saamna, blamed Prime Minister Narendra Modi for ruining the country's economy through demonetisation. “The PM dropped a nuclear bomb of demonetisation on our economy and turned it into Hiroshima and Nagasaki,“ said the Shiv Sena mouthpiece in its editorial on Wednesday.

“The PM is in no mood to listen to anyone. The Union cabinet is packed with dumb and deaf parrots...Same is the case with the RBI governor, a Modi appointee,“ remarked Saamna.

Commenting on NCP president Sharad Pawar's recent statement that the financial crisis hasn't been resolved even 90 days after demonetisation, Saamna said that 50% of the country's small-scale industries have suffered because of demonetisation. “Before the Centre's decision to scrap high-end currency notes, as many as 30 lakh workers were covered under the Centre's MNREGA scheme. This figure has now gone up to 83 lakh. This means that 50 lakh unemployed workers have sought shelter under MNREGA...The Assocham report states that 40 lakh people have lost their jobs, Saamna said.

Saamna endorsed Pawar's statement that the Centre's crackdown on the district co-operative banks has nearly destroyed Maharashtra's economic set up.“The Centre maligned all district central cooperative banks as corrupt by stopping them from accepting cancelled notes...In Maharashtra, cooperative sector is the backbone of rural economy ...Farmers, who daily deposit money in rural cooperative banks by selling their farm produce, have been dubbed as black marketeers...The Centre has maligned and humiliated the state's cooperative movement,“ said Saamna.

The Sena daily pointed out that the RBI has clarified that it doesn't have any information on the district co-operative banks indulging in corruption or irregularities. “The banks which Vijay Mallya duped were nationalized banks, not district cooperative banks,“ Saamna retorted. 

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