Another party, PMK has welcomed the demonetisation initiative.
CPI(M) 's Polit Bureau condemned the move as posturing. In a statement, the party said the move "is not going to yield the desired result of unearthing black money. It will have limited effect and is more like political posturing."
CPI State Secretary R Mutharasan said it was a "drama staged to deceive the people." He said Prime Minister Narendra Modi has conveniently forgotten his promise to deposit Rs 15 lakh in the account of every citizen by unearthing black money. He said demonetisation announcement only affected the ordinary people.
On the other hand, MDMK general secretary Vaiko said invalidating high denomination notes was a "welcome and bold step."
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He urged the Centre to take steps to ensure that the common people and traders are not affected.
PMK leader and former Union Minister Anbumani Ramadoss welcomed the move. "This step announced with an objective of stamping out black money and counterfeit currencies is a welcome move. If implemented properly, this will produce results."
(REOPENS DEL 20)
Information and Broadcasting minister M Venkaiah Naidu also weighed in on the logjam, referring to President Pranab Mukherjee's comments that disruption is totally unacceptable in the Parliamentary system.
"Hope our parliamentarians respect the advise of the statesmen President," Naidu tweeted.
"People send representatives to speak and not sit on dharna and not to create trouble on the floor of the Parliament house," he said in another tweet.