No proper plans, note ban a futile exercise: Mulayam Singh Yadav

Lucknow: Samajwadi Party president Mulayam Singh Yadav on Wednesday slammed the Modi government for the Centre’s demonetisation move, saying it ended up as an “exercise in futility” because the government failed to get out black money.

This is the first time that the SP president has criticised the Modi government in stronger words over the demonetisation. So far, the SP had adopted a soft approach towards the BJP on the issue.

Addressing a rally in Bareilly on Wednesday, Mr Yadav said that farmers and traders were the worst hit due to the cash crunch. “The truth is that even the banks have no money. And the BJP is number one when it comes to telling lies as it claims that the demonetisation has not affected the honest citizens,” he said. “Traders and farmers form the backbone of our economy. Farmers produce and traders sell — both have suffered losses. This is a national loss and I fail to understand what purpose the decision has served because those with black money have not paid the price,” he said.  

He criticised the Centre no prior planning. “The BJP should have given six months before banning the currency notes. Unplanned decisions have put the country through pain,” he said, praising party chief Shivpal Yadav for his work.