Over 150 civil society stars slam note ban

New Delhi: More than 150 eminent citizens, including left-leaning academicians and intellectuals, have come out strongly against Prime Minister Narendra Modi’s decision to demonetise Rs 500 and Rs 1,000 currency notes.

Calling the decision “misconceived”, the academicians said that in absence of steps to curb the generation of black money, the demonetisation initiative is a futile exercise, as it proved to be in 1978.

Those opposing the initiative include Prabhat Patnaik, Nayantara Sahgal, Prashant Bhushan, Jayati Ghosh, Anand Patwardhan, Syeda Hameed, M.K. Raina, Vivan Sundaram, Pamela Philipose, and Justice (retd.) Chandru Krishnaswami among others.

Raising questions over the efficacy of the demonetisation in eliminating black money and counterfeits while plunging the entire country into chaos, these individuals have condemned the exercise and have demanded a rollback or suspension of the initiative. “The common man has been beggared and is struggling to meet even basic necessities. This has thrown the entire economic system into disarray and it is evident that the initiative will not achieve its stated intent”.