NEW DELHI: In the second instalment of video series, Rahul Gandhi on Thursday alleged that Prime Minister Narendra Modi’s push for “cashless economy” was meant to “attack India’s informal sector” and turn it into “labour-farmers-small business-less economy”.
“The scary result of the demonetisation move on November 8, 2016, came on August 31, 2020,” Gandhi said in his video explaining how India’s “unorganised sector was devastated by economic moves like demonetization.”
“The hidden agenda of demonetisation, which saw the scrapping of all Rs 500 and Rs 1,000 currency notes, was to clear the ground” by “deliberately harming India’s informal sector which survives on liquid cash” and “passes on the gains to a handful of big corporates,” he claimed.
“Our informal sector works on cash. Small shopkeepers and workers survive on cash. Prime Minister Narendra Modi told the nation that he wants a cashless India. If India goes cashless, small shopkeepers, farmers and workers will be finished,” Gandhi said.
The series comes in the wake of the shrinking of the economy by a record 23.9% in the first quarter of April to June in the current financial year 2020-21. India’s informal, or unorganised, sector absorbs about 95% of the county’s workforce and is the key to equitable growth. He also recounted how millions of people suffered during demonetisation.
“What did poor Indians benefit, nothing. So who all benefitted, only the country’s billionaires,” Gandhi said, alleging that the government used the money “to write off the loans of billionaires”.
Speaking to media persons Congress leader Randeep Surjewala added that had the BJP paid some heed to warnings and suggestions by Congress leaders Sonia Gandhi and Rahul Gandhi and economic experts, the country would not be in the “economic mess” it is in today.
“They (BJP leaders) made fun of their suggestions and today have become a ‘Mazak’ (joke) themselves. The sad part due to their arrogance the country suffered. The simplest way to put back the economy on rails, as also suggested by top economists, would be to put Rs 15000 in hands of common people. The moment consumption increases, the economy will also receive an automatic kick.
“However, arrogance is making them ignore genuine concerns and pushing the country towards a bigger economic disaster,” Surjewala claimed, warning a further downslide in economy and job losses in days to come. “The country has failed miserably on the issue of managing corona. If infections continue to increase the way they are India will soon be at the top of the chart,” he added.