Rajya Sabha: Sitaram Yechury attacks PM Modi

New Delhi: The CPI (M) leader Sitaram Yechury attacked PM Modi over demonetisation and said that PM has added a prefix to a French expression 'After me the deluge'. The PM has given this saying a new turn by adding 'Before me the void' prefix to the statement.

We cannot have cashless economy:

• Attacking government in RS, Yechury said the PM, just like a French emperor who had said if you do not get bread eat cakes, has created a situation of 'If you do not have paper use plastic.'
• Out of 130 crores only 2.6 crore people have plastic money, said Yechury.
• You cannot count a set of people and show them stating that every one is happy with your decision, he stated.

What Yechury said on black money:

• Scrapping 86 per cent of the currency would not help the economy.
• Only 27 per cent of money in the economy is black out of which only 6 per cent of the money is in cash form.
• The people who are the black money holders do not keep their money under the sack.
• Their money is in circulation in the economy.
• The black money holders do not keep Rs 500 and Rs 1000 denomination notes, they keep Rs 1,500 in the form of a gold coin.
• Unless you tackle the supply side of the black money, you cannot end it.