NEW DELHI (Sputnik) — On November 9, Indian authorities launched a currency reform aimed at fighting corruption and shadow economy, under which the banknotes with the nominal value of 500 and 1000 rupees (about $8 and $15) will be withdrawn from circulation.
"Myself and my party fully support government demonitization drive… Black money is a parallel economy and it should be completely eradicated," Singh, the member of Samajwadi Party, said.
Singh stressed the importance of helping the government manage the crisis.
"My opinion is that opposition parties should help common people and opposition parties should collectively give advice to the government about what should be done more to lessen the problems of the people. We should give suggestions to the Prime Minister," Singh said.
The reform has led to long ATM lines and disrupted the normal cash flow of many businesses and daily activities of individuals. At least two protests are expected to take place on Monday, one in the eastern city of Calcutta and the other one in the south of the country, in Bangalore. A number of opposition parties, including the Congress Party and Aam Aadmi Party, have expressed their disagreement with the way the reform had been implemented.
