Left parties on Sunday hit out at the government over the state of the economy and blamed the Centre's demonetisation policy for it. The demonetisation of high-denomination currency notes was announced by the government on November 8, 2016.
Questioning the move, CPI(M) General Secretary Sitaram Yechury alleged that it "decimated the informal sector".
"Economy into a tailspin, the poorest hurt. Informal sector decimated. No black money recovered, but the rich got richer. Cash in the economy is the highest ever now! This govt must bear responsibility for pushing India downhill, just for one man's whim," he said in a tweet.
CPI Member of Parliament Binoy Viswam too criticised the government over demonetisation. "Currency in circulation: 2016 Nov. 17.97 lakh cr. 20 21 Oct. 28.30 lakh cr. 57% increase in 5 years! Black money in the country:300 lakh cr. Demonetisation was a total disaster. PM Modi should tender apologies to the nation. Modinomics was ''much ado about nothing''!", he said in a tweet.
Mr Yechury also demanded the withdrawal of excise duties on petroleum products.
"Looting the people! Imposing intolerable miseries on people already suffering under the double whammy attacks of Covid & economic recession. Withdraw central excise duties on petroleum products," said Mr Yechury in another tweet.
(This story has not been edited by NDTV staff and is auto-generated from a syndicated feed.)
"No One From BJP Can...": Chhattisgarh Chief Minister On Ambedkar Row PM Modi Gets Kuwait's Highest Honour 'The Order Of Mubarak Al Kabeer' PM Modi Gets Top Honour In Kuwait, Discusses Strategic Partnership With Top Leadership Congress Leader Files Complaint Against Allu Arjun Over Scene In 'Pushpa 2' Allu Arjun Summoned By Hyderabad Police For Questioning In Stampede Case Trump Says US Ownership Of Greenland Absolutely Necessary, Nation Responds US NSA Talks With Bangladesh's Interim PM Amid Rising Minority Violence Pak Government Agrees To Consult Imran Khan As Negotiations Begin Why Donald Trump Is Against TikTok Ban In US Track Latest News Live on NDTV.com and get news updates from India and around the world.