Demonetization: NPYC demands White Paper

Nagaland Pradesh Youth Congress (NPYC) demanded a ‘White Paper’ to expose the truth behind demonetization stating that demonetization policy was  total flop since the system was placed without thorough consultation with the RBI.
Addressing media persons this afternoon at Congress Bhavan NPYC president Vilhousielie Kenguruse also questioned the prime minister of India how much black money has been unearthed since November 8 2016, what was the loss of economy to the nation on account of demonetization, loss of jobs and livelihoods since the policy has been announced and how many lives have been lost due to demonetization.
Also NPYC asked why the central government why it has not paid any compensation to the families of the deceased and what was the process of consultation and preparedness followed prior to the implementation of demonetization.
Further the NPYC queried why were experts, economists or the RBI not consulted before unleashing this draconian policy upon the people and wither the government place the names of all persons, institutions, and entities that deposited Rs.25 Lakh or more in bank accounts in the six months preceding the November 8 2016.
NPYC also demanded that all restrictions on withdrawal of money be lifted with immediate effect and till the time these restrictions are in place, a special interest at the rate of 18% per annum should be given to all account holders.
The youth wing has demanded that all charges on digital transactions should be abolished and that the rate of rations distributed under the PDS system should be halved for the period of a year under the provisions of Food Security Act.
In addition to that NPYC demanded that a special one-time bonus of 20% should be provided over and above the MSP of all Rabi crops, Rs. 25,000 should be deposited in the account of a least one woman belonging to each BPL family as compensation for the immense suffering caused to women due to demonetization.
Further, NPYC said the number of guaranteed work days and the wage rate under MGNREGA should be doubled for a period of one year and that the government should organize a special drive to identify and register all those who have lost jobs since November 8, 2016, and provide them compensation at the applicable minimum wage rate for a time period extending up to March 31 2017.
NPYC stated that an Income Tax and Sales tax rebate of 50% should be given to small shopkeepers and businesses and that the Central government should compensate the State governments for the loss of revenue incurred on account of this exemption.
The president also asked the state government to re-think over the policy since 90% of the state total population belong to rural areas and were not aware of the situation.
The letter was forwarded through the commissioner Nagaland.