Critics term Modi a stooge of capitalism

Kolkata: A section of the civil society described the sudden decision to demonetise old Rs 500 and Rs 1,000 notes as an undeclared emergency on Friday, and appealed to the common people of the state to raise their voice in protest against the issue.

Addressing a press conference at the Kolkata Press Club on Friday, popular singer and former Trinamul Congress MP, Kabir Suman slammed Prime Minister Narendra Modi, branding him as an “orderly of world capitalism”. “India is now in a position when the Narendra Modi government is borrowing money from the market for running the country. In this process, the common people are losing everything,” Mr Suman said.

He praised the way in which chief minister Mamata Banerjee has been vocal against demonetisation. “The common people have accepted Mamata Banerjee’s way of protest, which had made Narendra Modi feel uncomfortable,” he added. Elaborating on his views, the former MP said that it is an illusion on the part of people that countries like India, Pakistan, Nepal, Bangladesh and Sri lanka are being run by its own government. The IMF and the World Bank are responsible for the running of these countries,” he said.

Economist Dipankar Dey expressed his apprehension that demonetisation will lead to banks offering such low interest-rates to the people that in the coming days, chit funds will again begin to flourish.