Expressing concern that the country was heading towards the biggest ever man-made calamity due to demonetisation, the YSR Congress Party chief YS Jaganmohan Reddy today urged the Governor to intervene so that to rescue the common man from this crisis by using his good offices.
A high level delegation of the YSRCP headed by him submitted a memorandum to the Governor and said that this move would hit the common man hard as India is a cash dependent economy with a cash/GDP ratio of 10.6 per cent. He said note crush has caused unmitigated hardship to country’s workforce in the unorganised sector.
Accusing that demonetisation was done without preparation, due to which the poor people are made to stand in long queues for days together to withdraw just two or found thousands, he said it could take at least six months to replenish the complete currency.
He deplored that Andhra Pradesh Chief Minister Chandrababu Naidu, who is a party to the demonetisation, is not pressing the Union Government for an immediate release of the required currency to Andhra Pradesh. Stating that intentions of the government may be good, he asserted that the country is not ready for this sudden shock.
