26 September Tuesday

Withdrawal of ₹ 2000 Note - A Continuation of Flawed Economic Policy : CM

Web Desk(Tvm)Updated: Tuesday May 23, 2023

Kozhikode :Withdrawing ₹ 2000 note is proof of the Central government continuing  its flawed economic policy, said Chief Minister Pinarayi Vijayan. The Centre is not implementing an economic policy with long term view or planning. Recalling currency once again within a seven-year-period makes this amply clear. The Centre is in effect destroying the trade and industry sector that’s just about recovering from crises of demonetisation and the pandemic, said CM.

Even when the Centre is constricting the state, Kerala govt  has been promoting businesses and industry  over the past seven years. Some vested interests propagate that Kerala is not conducive to industries. That’s falsified propaganda, said CM, inaugurating the public meeting organised by the State Committee of Kerala State Traders and Industrialists.

In 2015, the Central government pulled out  85 percent notes in circulation. Now ₹ 2000  notes are being withdrawn. As a result, 11 percent of currencies have disappeared  from circulation. The Centre is destabilising the country’s currency circulation in this manner. It will impact trade and industry sector. It will also affect he economy. Note ban was announced on 8 Nov 2016, as crackdown on black money, corruption and terrorism. We know none of these happened.

Traders are backbone of our economy. This withdrawal policy of the Centre is crashing the business sector. The unscientific implementation of GST too has  adversely  affected the traders.

The state objective is sustainability of industry and commerce, and  business friendly environment. When Public Sector Units are being shuttered elsewhere, while here, the state takes it over and runs it successfully. Today, world class multinationals are coming to Kerala. A work culture without lockouts and layoffs is growing. Kerala has become a startup-friendly state. More than 1,00,000 new ventures are established during the year. None of these find mention by false propaganda mongers.

The state govt aim is to have sustainability for businesses. Industries shall be helped with new technology so as to help them cope with modern challenges. The LDF govt aim is to up investments and create sustainable business environment, said CM. State Committee president VKC Muhammadkoya presided over the meeting.