New Delhi: SDPI National President A. Sayeed stated that the Prime Minister Narendra Modi should explain to the people what he had achieved from the disastrous economic stagnation forced upon them with a promise of recovery in fifty days time. What benefit did this demonetization bring to the industry or to the lives of common people except suffering? There is no declaration plans in Prime Minister's New Year speech to overcome the problems caused by the demonetization.

What Modi has done is to seize people's money and present it to the rich for free. There are also attempts under way to kill cooperative sector, on which rural population largely depend for their everyday transactions and to pump all the money to new generation banks. People have realised that black money holders are the only group who could successfully survive this demonetization, which was implemented under the false pretext of seizing black money and counterfeit currency. The common people were thrown to the streets. Through the digital money gimmicks, Narendra Modi is brokering to transfer the control of the national economy to foreign hands. Citizens of the country are fed up with the promises and welfare schemes declared by successive governments. Using the bait of economic benefits, Prime Minister has pulled the rug out from under the very base of people's everyday existence.