- Central decision to ban ₹500 and ₹1000 currencies is like the declaration of economic emergency: Isaac.
- It is an entirely wrong decision: Kerala FM
Taking strong exception to the surprising 'currency reforms' rolled out by Prime Minister Modi on Tuesday night, Kerala Finance Minister Thomas Isaac stated that the decision was similar to 'the declaration of an economic emergency.' "Economic experts opine that this is a mad decision," he told media persons at Thiruvananthapuram.
The Central Government's decision will have far-reaching consequences, and it will badly affect the Kerala economy. The transactions of the government will come to a halt. This is an entirely wrong decision, Isaac stated.
The economy has come to a grinding halt. We don't know when it would start rolling again, Isaac opined. "But we have no option but to bear the consequences of the central decision," he said.
Meanwhile, the BJP hit back hard by stating that Isaac's opposition to the currency reforms aimed at checking black money was predictable. Kerala is a 'black money state', and that is why Isaac is worried, BJP National General Secretary Ram Madhav shot back.
Last Updated 31, Mar 2018, 6:43 PM IST