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Indian Gov't Demonstrates Poor Planning With Demonetization Reform

© REUTERS / Danish SiddiquiA customer deposits 1000 and 500 Indian rupee banknotes in a cash deposit machine at bank in Mumbai, India, November 8, 2016
A customer deposits 1000 and 500 Indian rupee banknotes in a cash deposit machine at bank in Mumbai, India, November 8, 2016 - Sputnik International
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The Indian government should have planned the money reform better, as the long lines at the banks are currently crippling the economy of the country, Bhagwant Mann, a member of the Indian Parliament, told Sputnik on Monday.

A man displays 500 Indian rupee notes during a rally organised by India’s main opposition Congress party against the government's decision to withdraw 500 and 1000 Indian rupee banknotes from circulation, in Ajmer, India, November 24, 2016. - Sputnik International
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NEW DELHI (Sputnik) — Major rallies are expected to be held on Monday in the cities of Kolkata and Bangalore in protest against the reform that caused long lines at the post offices and banks, with many people withdrawing money from their accounts or depositing the old bills.

"It's not an revolutionary decision as claimed by the government… Government should have planned the things in a better manner," Mann, a member of Aam Aadmi Party (AAP), said.

According to the lawmaker, the people were unhappy to have to stand in lines and the country's businesses were suffering due to the disruption of the cash flow.

"Farmers are standing outside the banks to draw their money. Due to cash crunch agricultural activities is suffering," Mann said.

Demonstrators hurl stones towards Indian policemen during a protest in Srinagar, against the recent killings in Kashmir region, September 25, 2016 - Sputnik International
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Mann noted that he supported the fight against the corruption but the demonetization had not been properly implemented.

Indian Prime Minister Narendra Modi should apologize to people for the inconveniences the reform had caused them, Congress Party member Pramod Tiwari told Sputnik.

"We have three demands, there should be an enquiry by the Joint Parliamentary Committee, Prime Minister should reply in the Parliament and Prime Minister must apologize to the nation for the unpopular demonitization drive which has created hardships for the peoples," Tiwari said.

On November 9, Indian authorities initiated a currency reform aimed at fighting corruption and shadow economy, under which the banknotes with the nominal value of 500 and 1000 rupees (about $8 and $15) will be withdrawn from circulation. Citizens have to spend hours in line to change the old banknotes for the new ones, while there is a limit on withdrawing new banknotes.

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