Participants in a Round Table Conference on the theme "Is Demonetisation in the National Interest?" were of the firm view that the Note Ban is thoroughly anti-worker, anti peasant, anti-social and anti-national.
The conference was organised by the Delhi Council of Lok Raj Sangathan on 15th February, 2017. Ms Sucharita conducted the proceedings of the Conference.
After the opening remarks of S. Raghavan, President of Lok Raj Sangathan, the floor was thrown open to all participants. Among those who participated were Comrade D. D. Rastogi of All India Bank Employees Association, Comrade Varshney of Communist Party of India, Comrade Prakash Rao and Comrade Dharmender Kumar of Communist Ghadar Party of India, Comrade Sheomangal Siddhantkar of CPIML (New Proletarian), Comrade R. K. Sharma of Socialist Unity Centre of India (Communist), Comrade Alok of Krantikari Yuva Kendra, Comrade Arjun of Peoples' Democratic Front, Shri N. D. Pancholi of Citizens for Democracy, Comrade Nagendra of Inquilaabi Mazdoor Kendra, Comrade M Gupta and Comrade B.S. Sharma.
Speakers tore into the lies of the government that the Note Ban would get rid of black money, curb terrorism and bridge the gap between rich and poor. These lies have been used to label all those who question or oppose the Note Ban as “anti national”. These lies were aimed at covering up the fact that the Note Ban has been carried out at the behest of the Indian monopoly houses and global finance capital. Windfall profits are being made by electronic payment companies from the deliberate creation of acute cash shortage.
Comrade Rastogi pointed out that following the Note Ban, banks were flush with money. A lot of the fake currency had also got back into the banks, and the government is trying to blame bank employees for this. He noted that the actual Non Performing Assets of the banks were likely to be over 12 lakh crores. The government was proposing to set up a special bank for Non Performing Assets. He pointed out that lowering of interest rates, which is being promoted as a pro people step, is actually going to hurt the vast masses of people because their interest earnings on bank deposits will get reduced.
Comrade Varshney pointed out that the bulk of unaccounted wealth is not held as cash. It was stashed away in foreign bank accounts. While only Mallya is in news, more than 100 capitalist loan defaulters have left India. He said that it was a proven fact that the US imperialists were behind terrorist organisations such as the Taliban; and that terrorism cannot be eliminated unless poverty is eliminated.
Comrade Prakash Rao argued that the Note Ban was a well-planned onslaught on our people, carried out at the behest of the Indian and foreign multinationals. He referred to the global campaign led by the US in the name of curbing corruption, black money and promoting “good governance". They deliberately labelled various governments as “corrupt”. It is they who produced lists saying how much money of different countries were in Swiss bank accounts. Then various people in our country began repeating what the US imperialists were propagating. He said it is the big bourgeoisie which sets the agenda and entrusts the ruling party to implement it.
Comrade Siddhantkar said that if the attacks of the capitalists have to be defeated, then we have to awaken and organise the working class around its own class interest, including and especially the workers in modern sectors of the economy.
R K Sharma agreed that it is the class in power which sets the agenda; and that the Note Ban is in the service of the big bourgeoisie. He pointed out that big monopoly capitalists are seeking to enter the retail sector and want to destroy all obstacles in their path. This is one of the reasons behind the Note Ban.
Sucharita of Lok Raj Sangathan concluded the meeting, calling on everyone to mobilise the people to defeat the agenda of the big capitalists which is being imposed on society.