Sitaram Yechury mocks PM as Modi Antoinette'

New Delhi: Labelling Prime Minister Narendra Modi as “Modi Antoinette,” CPI(M) general secretary Sitaram Yechury on Wednesday not only rejected the Prime Minister’s main objectives behind the demonetisation decision, but also claimed that the decision has led to “complete mayhem” across the country.

Quoting French emperor Louis XV’s famous sentence “after me, the deluge” to Roman Senator Gracchus’s famous speech about the emperor — “I think he knows what Rome is. Rome is the mob... He’ll bring them death, and they will love him for it,” — Mr Yechury equated government’s suggestion to use more of plastic money to the quote attributed to French Queen Marie Antoinette who had said “let them eat cake” when told that people had no bread.

“In the French revolution, they said if you don’t have bread, eat cake. Now we have Modi Antoinette. If you don’t have paper, pay by plastic,” said Mr Yechury, while speaking in a debate on the demonetisation issue in Rajya Sabha. He said the government demonetised the two notes, which were 86 per cent of the total cash transaction in the country.

He also said everyone knows about the condition of Internet coverage in the country, especially in rural areas.

Alleging that a BJP unit in Kolkata deposited Rs one crore in Indian’s Bank Account on November 8, he said “prove me if I am wrong.” He added that Prime Minister was advertising for Paytm while talking about cashless economy. “It is no longer Jai Hind. PM is appearing for advertisements Jio Hind.”

The CPI(M) leader said 1/5th of the economy is black economy and people who kept black money invested it in real estate, gold etc. That is why the imports surged and stated that it was this PM only who had stated that 95 per cent of the black money is stashed offshore and is in safe havens.

“PM is cleaning a pond to kill crocodiles but big crocodiles have survived as they can walk on land..only small fishes are dying,” said Mr Yechury.

He alleged that SBI has waived off Rs 7,000 crore of NPAs, to which Finance minister Arun Jaitely said that written off does not means loan waiver. Mr Yechury while mentioning Vijay Mallya said in effect the money given to the defaulter was not going to be realised.

Mr Yechury said by demonetising Rs 500 and Rs 1,000 notes, the problem of blackmoney was not going to be solved and this way the government was killing the poor. He also demanded that corporate funding of all political parties should stop and there should be a stystem of state funding for elections to which Deputy Chairman P J Kurien said “why don’t you move a private members bill in this regard.”

On his charge that the government had brought it FCRA for foreign funding, Mr Jaitley said there is only a small amendment to benefit Indian companies giving funds in Indian accounts.

Mr Yechury also questioned how cooperative banks were not entrusted with powers to change currency notes whereas bulks of the Indians were dealing with rural cooperative banks.

Terming the demonetisation move as “Tuglakshahi”, he said the length of queues before banks and ATMs was ever increasing and asked why the government was agonising the people.

He sought an investigation into the move, saying “let there be a joint parliamentary committee” for a proper probe. “We need to know the motive behind the move” as before every parliamentary session there is some gimmick which diverts attention from other major issues, he said.