Demonetization has ruined agriculture economy
Farm prices fall drastically breaking the backbone of peasantry
Job loss of 1.5 million in Jan-April 2017
AIKS calls up on entire people to rally against anti-farmer BJP and Modi government
The one year period after the infamous Demonetization has exposed the huge claims of Prime Minister Narendra Modi of economic prosperity to peasantry and rural workers and it has devastated the agriculture by breaking back bone of the peasantry. Trade in countryside takes place not through cheque leaf and bank transfer but currency. After demonetization, the RBI had withdrawn 86% of the currency notes that was in circulation and the petty traders and peasants were in deep trouble. The price of agriculture produces had been declined drastically and farmers were forced to do distress sale and suffered huge loss. Since there were no storage facilities, the raw agro products got wasted and thus also farmers lost dearly.
The demonetization has facilitated transfer of resources and wealth from the poor to rich. It has intensified income inequality leaving the peasantry and the working class at the receiving end. The price of agro produces has been at constant fall comparing to the price one year ago and farmers and agriculture workers have faced huge loss.
| Crop | Current price Rs. | Year ago price Rs. | MSP |
| Groundnut (junagar) | 3600 | 3900 | 4500 |
| Cotton(Rajkot) | 4550 | 5000 | 4820 |
| Potato (Agra) | 440 | 1050 | 487 |
| Soyabean(Ujjain) | 2600 | 2850 | 3050 |
| Bajra (Jaipur) | 1100 | 1400 | 1425 |
| Maize (Davengere) | 1200 | 1400 | 1425 |
| Urad(Ashoknagar) | 2500 | 5200 | 5400 |
| Arhar(Gulbarga) | 3700 | 5100 | 5450 |
| Moong(Jodhpur) | 3800 | 4300 | 5575 |
Courtesy Harish Damodaran, Indian Express, 8th November, 2017
The above data proves that farmers are not getting even the MSP assured by the State and Central Governments. They were promised to get 50% above cost of production as remunerative price to all crops by the BJP in its 2014 election manifesto.
After Demonetization the GDP has been declined by 2.2% from 7.9% during April-June 2016 to 5.7% during the same period in 2017. If the GDP decline by 1% the people will loss Rs.1.5 lakh crore. Thus after Demonetization, the loss suffered by the people is Rs. 3.3 lakh crore. Actually the peasantry and the working class bear the cost of this loss. This is nothing but organized loot and legalized plunder and the agony and misery lingering till this day. AIKS accuse Modi government as responsible for the financial crisis and must compensate the farmers and the rural working class.
The Indian economy is declining under the BJP led Central Government. 1.5 million Job loss is estimated in January-April 2017 alone as per CMIE- Centre for Monitoring Indian Economy. The number of people who declared themselves unemployed fell much more –by 9.6 million. A study shows only 2 lakhs engineering students received placement offers in this year as against 10 lakh students last year. The total pass out is about 14 lakhs a year.
The AIKS has been in the forefront to rally the peasantry against Demonetization. The entire black money has been put back in to formal banking sector and the RBI and Public Sector Banks are paying interest to the tune of Rs 28000 crore per annum to that. The AIKS strongly condemn the BJP led central government for this gross onslaught on the entire peasantry and the people. AIKS calls upon the entire peasantry to rally against the anti-farmer economic policies of the BJP and the Narendra Modi Government. AIKS also appeals to make the 20th November March to Parliament a huge success.
With regards
Hannan Mollah, General Secretary
Ashok Dhawale, President
