Intellectuals call note ban worse than Emergency

Kolkata: Expressing “intense” displeasure over the Narendra Modi government’s demonetisation initiative, some city intellectuals on Thursday termed the decision “even worse than the Emergency”. Noted Indologist Nrisingha Prasad Bhaduri said the sudden decision of scrapping Rs 1,000 and Rs 500 notes had caused immense hardships to the common people, particularly elderly and women.

“For hours together, we had been forced to stand in queues to withdraw our own money. Earlier, if the bank manager took a tea break, he would face a howl of protest from the angry customers. Today, we are standing quietly for hours in lines even braving police’s lathis because every one seems to be scared,” Mr Bhaduri said.

Mr Bhaduri, who recently won the Sahitya Akademi Award, said situation after the demonetisation is “even worse than the Emergency era”.

“In 1975, the freedom of expression of some people may have been curbed but the demonetisation decision has curbed financial freedom of every citizen,” he claimed.

Noted economist Abhirup Sarkar said the crisis that the demonetisation has triggered across the country will not be resolved in 50 days. “ It is a huge crisis which has caused serious inconvenience to common people,” he said. Rejecting Mr Modi’s claim that the demonetisation was aimed at eliminating black money from the economy, Mr Sarkar said, “It is common people who can’t withdraw their own money freely from their bank accounts or ATMs. The move will not have much effect on the hoarders of black money,” he added.

Former vice-chancellor of West Bengal State University and Sahitya Akademy winner, poet Subodh Sarkar also voiced their scepticism over Mr Modi’s claim that the demonetisation was aimed at cracking down on black money hoarders.