CPI (M) state secretary G. Ramakrishnan has said that the demonetisation exercise in its present form was not genuinely aimed at eradicating black money but only to divert the overall dissent of people on Union Government. “Considering the apparent hardships faced by the common man, the authorities should allow to use the now withdrawn Rs. On why he felt that the present measures will not wipe out entire black money, Mr. Ramakrishnan claimed that according to the authentic studies, only six per cent of the black money generated in the country was stored in cash. Similarly, the issue of counterfeit notes is also not at any worrisome levels to warrant any demonetisation exercise of the kind. He appealed to the State Government to take steps to conduct civic body polls (stalled by the Madras High Court) at the earliest.

Source: The Hindu November 21, 2016 00:02 UTC