The Communist Party of India-Marxist is no doubt confused to the core after the 'surgical strike' by Modi government by demonetising ₹500 and ₹ 1000 currencies last week. 

 

The first response from Kerala Finance Minister Thomas Isaac was that the currency ban was a 'mad decision.' 

 

Also read: Currency ban a 'mad decision,' says Kerala FM; BJP hits back

 

Calling it a gimmick, CPM general secretary Sitaram Yechury said that the demonetisation was an attempt to divert attention from serious social and political failures of this govt in past 2.5 years.

 

Kerala Chief Minister and CPM Polit Buro member said that demonetisation wouldn't do good as it had been "leaked out to the black money lobby in the country." 
 

Also read: Currency ban: How come some people knew it in advance, Kerala CM quips

 

 

But CPM Central Committee member EP Jayarajan who is also the leader of a Kerala Vyapari Vyavasayi Samiti, a platform of merchants and proprietors of commercial establishments in Kerala, stated on Sunday that currency ban was the 'right decision' to check black money and the flood of fake notes.

 

He, however, followed the CPM stand that the demonetisation without proper preparation severely affected the lives of ordinary people. 

 

The Central Committee member's stand goes against the CPM's official statement released on 9 November. "The claim that the demonetization will check black money, fake currency, corruption and terrorism lacks substance," the statement said.

 

The CPM's defiant rejection of West Bengal Chief Minister Mamata Banerjee's call for a joint struggle against the NDA govt. raising the issues of demonetization further exposes the Left party's dilemma.  Rejecting Mamata's invitation for a joint fight, the CPM stated that she was desperately trying to save Trinamool leaders embroiled in black money cases and scams! 


Didn't you just read the CPM terming demonetization an ineffective means to check black money and corruption?!