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Maha economic activist welcome demonetisation announcement


In the wake of demonetisation of certain currency notes, a group of activist from Maharashtra said they had campaigned for scrapping of high denomination notes and even written a letter to Prime Minister Narendra Modi on the issue as recent as October 26.

Arthkranti, a group of like-minded activists that was founded by Aurangabad-based activist Anil Bokil, has been campaigning for the scrapping of Rs 1,000 and Rs 500 denomination for some time.

“Arthakranti on October 26 had sent a letter asking Prime Minister Narendra Modi to implement the demands of Arthkranti specially the scrapping of denominations. The Jan-Dhan yojana was also part of our demand and it has covered maximum population so far,” Yamaji Malkar, trustee of Arthkranti said,

“The denominations like Rs 500, Rs 1,000 and Rs 100 cover 95 per cent value of Indian economy. The average daily income of common man is Rs 150; hence we argued that higher denomination notes are more used for stashing cash. It was more helpful for black-money generation than any use to the people,” Malkar said.

Bokil first met Modi in 2012 when he was Gujarat CM and he had assured Bokil of implementing his recommendations, according to Malkar.

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