Cash crisis: Is it financial emergency, asks the opposition?

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There is a severe shortage of cash in many states including Telangana and people are feeling the same heat they suffered during the days of demonetization. The Union Finance Minister Arun Jaitley said it was a temporary phase and the government would soon tackle it. There is enough cash in circulation, he asserted. Explaining the reason, the Minister said the demand hiked only in current months. No one will swallow the reason put forth by the Minister. The Reserve Bank of India constantly monitors the circulation of currency in the banks and replenishes the requirement of the banks. Sudden spurt in the demand is a baseless excuse.

Several ATMs in big cities including the national capital witnessed long queues and many people are disappointed as these machines go dry soon. The Congress president Rahul Gandhi in his constituency Amethi said that the terror of note ban again gripped the country. On his Twitter he also remarked that the Prime Minister took Rs 500 and Rs 1000 and gave them to Nirav Modi who fled the country allegedly with Rs 12,700 crores.

West Bengal Chief Minister Mamata Banerjee said the cash crunch was the reminder of the demonetization days. Is there a financial emergency in the country? she asked. CPM leader Sitaram Yechury said the ATMs are empty but the BJP is flush with the cash.

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