The first day of winter session in Parliament has turned out into a war of words with the opposition leaders looking to corner the ruling NDA government over the recent demonetisation issue.
RBI rules 26(B) states the one can cease a particular series, but the government has flouted norms by ceasing 86 per cent of the currency, claims Pramod Tiwari.
Wherever I went in the last 6-7 days, there are long queues almost everywhere from morning to evening, and when they get turn, they are told that the money from ATMs is over. School Children are playing on the street for their teachers are standing in queue for money, says Pramod Tiwari.
The biggest scam done by BJP is by banning the Rs 500, Rs 1,000 notes, claims Pramod Tiwari, INC, Uttar Pradesh.
Today, the farmer does not have money to buy fertiliser, more than 4,000 trucks across the nation which are carrying perishable goods like fruits and vegetables, are in a limbo. And your government says that they were planning since 10 months. Also, how has Urjit Patel’s signature come on the new notes, who joined just two months back.
Also your Economic Affairs Secretary, says that if the colour of note goes off while washing the note, that means the Rs 2,000 nore is original. Are you just there to create panic in the country, questions Prem Chand.
We are all for getting the black money back into the system, but the way it is done is not acceptable. The 10-month planning has brought crores’ of people on the Street, what kind of planning is this, questions Prem Chand Gupta.
A legal document, currency, getting void overnight is not acceptable anywhere in the world, says Prem Chand Gupta, RJD, Jharkhand.
The money that is now going to be collected or deposited in the banks will be used to fund the farmers, start-ups and all that section which requires, says Naresh.
I am confident that the future generation will reap a lot of benefit from what the government is doing, says Naresh.
Have two suggestions for the government, barring co-operative banks from giving money is causing a lot of problem for the farmers. So please allow the farmer to go to the co-operative bank to change money.
Secondly, private hospitals are not allowed to collect cash, please allow them, it’s a simple suggestion that the hospital can collect the patients Pan card copy.
Also since it’s a marriage season, allow every family that has a marriage in the family to withdraw at least Rs 2 lakh at one time.
If you deposit any amount in the bank, you will have to pay only 30 per cent tax, as per the IT laws claim Chartered Accountants. I hope the finance ministry replies to this, says Naresh.
The black money cancer started during Indira Gandhi’s regime, says Naresh Gujral.
Naresh Gujral, SAD, Punjab, the generation of black money started when the tax rates are high.
90 per cent of the India’s trade is in informal sector, says Praful.
Praful Patel, shares an incident, that his servant took an advance loan of Rs 50,000 for his daughters marriage, and took the train on the evening of 8 November, just before the announcement. Even before the train could reach his village, the said Rs 500 notes were banned overnight, leaving the servant helpless.
Today, there is a problem that the new notes cannot be calibrated in the existing ATM, which is a problem, says Praful.
Today in India, there are only 2 crore credit cards in a population of 120 crore, says Praful Patel, NCP, Maharashtra.
I am sure that BJP will face the people warth in the upcoming elections in the five states and also the next general elections, says Mayawati.
The government has taken demonetisation decision in a haste, to hide their weakness, as they have been unable to fulfill their promises in the last 2.5 years, claims Mayawati.
Why has the government thought of banning the old notes after 2.5 years in power at a time when there are upcoming elections in some of the key states, does this indicate that the government is in bad shape, says Mayawati.
PM Modi claims that he had planned this for 10 months, then why did you not plan the entire process well enough, asks Mayawati.
PM Modi in a rally at Uttar Pradesh said that we was against corruption, but the crowd there were full of corrupt people, says Mayawati.
People were cheated due to lack of change, shopkeepers were telling them to pay Rs 500 for purchases of mere Rs 100-200, and similarly pay Rs 1,000 for purchases of Rs 600, claims Mayawati.
The government by banning the high denomination notes, has created an ‘Emergency’ like situation in our country since 9th November 2016, says Mayawati.
Mayawati, BSP, Uttar Pradesh, I an not against the government’s decision to demonetise currency, but I would like to draw the attention of the government, especially Prime Minister Narendra Modi, to the apathy of the people following the move.
We really wants to know what is the motive behind government’s move. If need be there should be a JPC (Joint Parliamentary Committee) investigation, demands Sitaram.
In the rural areas, 80.8 per cent of the population is not covered by the banking system. Then what banking and plastic money is our Prime minister talking about, claims Sitaram.
Bulk of Indians are dealing with rural co-operatives bank, but the government has not allowed them to change the currency demoninations.
Sitaram calls to stop the supply side of corruption, including party funding for political parties.
Stats reveal that only 0.028 per cent notes were counterfeit, so was this step really to curb counterfeit notes, questions Sitaram.
Black money is not a stock, black money is a flow, those are not the means that you are stopping but by doing this the large crocodiles are set free, while the small fish are dying, adds Sitaram.
Even Vijay Mallya’s loan has been restructured, but what about our farmers, why is nothing been done for them, asks Sitaram.
Arun Jaitley interrupts Sitaram, says that the government will still pursue to recover bad loans.
The World Bank report states that nearly 27 per cent of the Indian economy is in black money, says Sitaram Yechury.
The black money is going in gold, there are now Rs 15,000 gold coins, we are getting smses from jewelers to convert black money into gold, add Sitaram.
Sitaram mocks PM: says the prime minister is appearing in an ad and saying PayTm go cashless in another ad he says Jiyo hind.
The Maha government today declared that one can buy cinema tickets with the old Rs 500 and Rs 1,000 notes. Is this not a move to convert black money into white. Why is there such differentation, questions Sitaram.
What is the government doing with the country by launching the new Rs 2,000 note, when no one has change to disburse, says Sitaram.
There are 4,000 roads standing on the West Bengal highway with stocks of vegetables, not able to move ahead due to lack of currency change.
Fisherman’s complain that they cannot either sell the fish or let their fish rot, as the traders are willing to buy the fish with the old Rs 500 and Rs 1000 notes, which will be of no use for them.
Sitaram Yechury, CPI(M), West Bengal, I believe the government has no idea what is the current situation of the nation, the government came into the power and said we will bring in change and it trying to do that without knowing the ground reality.
Let there be an investigation in this entire demonetisation leakeage plan. And take people like me should be part of the investigation team so that the corrupt will not go unpunished.
If the government is saying that the planning and printing of the new notes was done six month back, then how come the new notes have Urjit Patel’s signature who has been appointed just two months back.
A lot of people have died because of the demonetisation move, media have reported around 25-30 deaths, but in reality there have been many more deaths.
I guess, even Arun Jaitley was not aware of the note ban, for if he knew it, he could have told me for he is my good friend, claims Sharad Yadav.
The dishonest are sleeping in their comfort zones, while the honest ones are having sleepless nights, add Yadav.
People will create bigger black money, and its the hard working honest person who will have to pay for it. Unfortunately, the bank does not stand a chance to reply to this demonetisation move, says Sharad Yadav.
There are plenty of vegetables, but yet the markets are deserted and the vegetables are either getting ruined in the fields or in the market.
You speak about 30-days or 50-day pain period, but what will the poor people do till then. The Centre has pushed the entire country from a running train, says Sharad Yadav.
25 lakh trucks are standing: for when a truck is on the road, the driver has to eat from roadside stalls. Right from dhabas, to police station everyone needs hard cash and change, says the JDU leader.
There are plenty of vegetables, but yet the markets are deserted and the vegetables are either getting ruined in the fields or in the market, adds Yadav.
Even the disabled and elderly people are standing in queue, says Sharad Yadav.
Taking a dig at the demonetisation move, Sharad Yadav says that you got the people united by making that stand in queues outside the banks.
Sharad Yadav, JDU, Bihar, the government has worked in such a manner, as if people are jumped into the Rajdhani train. You have made the common man stand in queues, the mothers and daughters of the house are standing in lines.
We are against black money but the government should take appropriate steps to see to it that the poor people do not suffer, says A Navaneethakrishnan, AIADMK, Tamil Nadu.
A lady in Andhra Pradesh, who worked hard and saved 20,000 rupee and wanted to save the money in the bank after prime minister announced about the demonetisation, she was robbed at the bank, she returned home and later she passed away. I do not want to say she committed suicide, it is matter to be looked into.
A. Navneethakrishnan from AIDMK begins his speech
Prof Yadav concludes by saying the information about the currency change was leaked before hand, which is not acceptable and this matter should be investigated and credibility of this news must be checked and the guilty should be punished if there are any.
Government should arrange for a mobile van where people can exchange their old notes with new notes easily, and secondly the government should investigate who is trying to kill the prime minister
Private hospitals should accept the old notes. There are situations where the hospital is not willing to give the body of the deceased to the family because the money is not paid
Prof Yadav says Villagers are struggling to buy even toiletries, if this continues even Baba Ram Dev won’t be able to sell his products. People who are getting married are struggling, either their marriages are breaking off or are postponed, which is leading to people committing suicide out of frustration
Prof Yadav continues to mock the government and its move of demonetisation
Rajya Sabha resumed post lunch
Rajya Sabha adjourned for lunch. Will resume debate at 2 pm IST.
Prof Yadav makes mockery of the talks of chip in Rs 2,000 note, says even America have failed to do it over a period of time.
What if a woman has collected Rs 10 lakh in a period of over 20 years, which translates into a yearly income of Rs 50,000. Then you should tax her accordingly. I see a lot of woman standing in queues, to deposit money which they had accumulated from what they used to receive from thier husbands on monthly basis, says Yadav.
From where did a BJP leader tweet the new Rs 2,000 note even before the new note was introduced, Prof Ram Gopal Yadav raises concern in Parliament.
Piyush Goyal, union minister, defends the Centre’s demonetisation move, says that the people of the country had faith in the Modi government hence it had brought it to power in 2014.
He adds, than almost 86 per cent of the Indian currency was in Rs 500 and Rs 1,000 notes. Given the high ratio, it seemed obivious that a lot of it was either hidden of black money.
BSP supremo, insists to call Prime Minister Narendra Modi to the Rajya Sabha.
It’s an important decision taken by the government, and warned the black money hoarders that there is no room for black money in the economy. The honest can go and deposit that money without fear in the banks, says Goyal.
Some people suggested that the government should have given us 7-10 days time to prepare for demonetisation, to which Goyal adds that I fail to understand any need for such warning.
If all people pays tax, that the Central government is bound to have more money, which in turn can be used for the benefit of the country, adds Goyal.
Slowly and steadily in queues at the bank has been decreasing, and the people of India are willing to face the diffculity for few days, as the decision stands in favour of the nation. Also, with the new Rs 500 and Rs 2,000 notes in bank the people are happy, says Goyal.
The RBI runs the monetary policy and this decision was taken after consultation with the RBI.
On Swiss bank account holders – We cannot disclose the names of people having money stacked in the Swiss Bank, as the same will derail the process of getting more information from the sources. Also, we believe that it is more important to disclose the names to the Supreme Court rather than to the general public.
We had increased the minimum wages by 42%, and the motto behind the same was that the poor wager gets his due in the bank, for he was the one who was exploited by been underpaid in case, adds Goyal.
The Lok Sabha was adjourned for the day after Speaker Sumitra Mahajan read out the obituaries.