PM Calls Cabinet Meet Tonight Amid Opposition Attack Over Notes Ban: 10 Developments

A short while ago, Finance Minister Arun Jaitley met heads of public and private sector banks through video conference to review their preparedness in face of the continuing cash crunch after the ban on 500 and 1000 rupee notes aimed at eliminating corruption or black or untaxed money.

The government's concessions for accepting the now banned 500 and 1,000 rupee notes at petrol pumps, hospitals and several government facilities ends at midnight tonight, and sources said some exemptions will be extended in a calibrated manner. An announcement is expected soon.

Opposition parties have continued their attack on the government in parliament and outside, with former Prime Minister Manmohan Singh leading the charge the Rajya Sabha, saying while he does not disagree with the objectives of the notes ban, its implementation is "a monumental management failure."

The truce in Rajya Sabha that allowed the debate on the notes ban to resume was short lived, with the opposition forcing an adjournment again till tomorrow because PM Modi did not return to the Upper House after lunch.

Finance Minister Arun Jaitley assured the opposition that PM Modi - who sat through a morning session when his predecessor Dr Singh spoke - would be back soon and would speak in the debate, but the opposition raised slogans demanding that he be present for the entire discussion.

"The opposition was taken by surprise that the government said the PM would participate and now wants to run away from the debate. It is looking for new excuses to run away," Mr Jaitley alleged, stating that the opposition has "lots more noise and little substance" against the notes ban.  

In a sharp rebuttal to Dr Manmohan Singh, Mr Jaitley said, "It is disappointing to hear from people who were in charge of the government when the most black money was generated, most corruption scandals came to the fore."

At yesterday's cabinet meeting, PM Modi told his ministers that a survey conducted on his app saw record participation and proved that people back his effort to crack down on black money and corruption by removing the old high-denomination notes.

The opposition says has dismissed the survey as "fake and sponsored," in the words of Bahujan Samaj Party chief Mayawati, who said that if PM Modi wants "a real survey" he should call for fresh national elections.

The government has important bills lined up to be passed in the winter session, which ends on December 18. It also hopes to pass two bills related to its mega reform Goods and Services Tax to be able to meet an April 2017 deadline for implementation.