The Communist Party of India (Marxist) on Friday said that if Prime Minister Narendra Modi's move to demonetise currency notes of Rs.500 and Rs.1000 would have curbed the inflow and outflow of black money, then everyone would have supported it, but maintained that such was not the case.
"If it was a step to curb black money, then undoubtedly it would have been supported, but, everybody knows that this is just posturing," CPI (M) politburo member Brinda Karat told ANI.
"The spheres of the economy in which black money is generated is real estate or bullion, the hawala transaction or the way that these participatory notes are allowed into the Indian economy into the stock exchanges, these are the areas in which black money is operating," she said, adding that the Modi-led government has taken no action to curb these.
"Without taking any steps against that and even where they have got the money holders, they want to protect their names, they want to protect those who are criminals," she said.
She said it is the common people in this country who are suffering because of this step.
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