Demonetisation mere posturing: Prakash Karat

New Delhi, Nov 9 (IANS) CPI-M leader Prakash Karat on Wednesday criticised the Centre’s decision to demonetise the Rs 500 and Rs 1,000 currency notes, terming it “posturing” to divert people’s attention from the government’s failures.

“This is just a political posturing to hide the failures of the government,” the Communist Party of India-Marxist (CPI-M) leader told media here.

“This decision has caused a lot of disruption in the life of the common people. The Modi government has not addressed the sources of black money and did nothing to check them. There are certain sectors, which are the sources of black money, like real estate,” he said.

Prime Minister Narendra Modi, in a televised address to the nation on Tuesday evening, announced scrapping of Rs 500 and Rs 1,000 denomination notes. Apparently, the move aims to stem the flow of counterfeit banknotes and root out the menace of black money.