The riposte is pivoted on the opposition and government’s fundamental disagreement on the demonetisation drive and its benefits. Both sides have so far failed to truce on how the reform should be debated in parliament. The lack of a compromise has left parliament stalled for virtually all of this winter session, jeopardising key legislation like the national Goods and Sales Tax or GST, seen as key for economic growth.
The opposition has today abandoned its earlier insistence on a debate followed by a vote, offering instead to accept a “no rules” discussion which would leave it up to Speaker Sumitra Mahajan to decide whether a vote should footnote a free-wheeling discussion.
On November 8, Prime Minister Narendra Modi announced that within hours, high-denomination notes would be illegal. The reform, intended at purging the economy of black money, was praised for its ambition, but has shoved India into a cash crunch, with long lines at banks full of people desperate to turn in the old notes and collect new bills.
But the new currency is in thin supply, and banks are unable to provide people with the 24,000-per-week withdrawal that they are entitled to.
