Mangaluru (The Hindu): Alleging that Prime Minister Narendra Modi’s decision to demonetise currency in the denomination of Rs. 500 and Rs. 1,000 was without a “visionary approach”, Chief Minister Siddaramaiah said here on Saturday that the step had hit the common man and not those who had stashed black money.

Addressing Congress workers at the birth centenary celebrations of the former Prime Minister Indira Gandhi at the Nehru Maidan here, he said that demonetisation had worried only ordinary people and not those having black money.

“Are those who have been standing in queue in front of banks and ATMs are having black money? It is the common man who has been having sleepless nights and not those having black money,” Mr. Siddaramaiah said.

The Chief Minister said that the Union government should have ensured that Rs. 100 and the new Rs. 500 notes were made available in enough numbers. “Now, many ordinary people, petty traders, and patients are suffering because of the non-availability of denomination of other currency in enough number. The Prime Minister did not think about the implications of the decision and that is why it is a step lacking a visionary approach,” he said.

Mr. Siddaramaiah said that when Morarji Desai was the Prime Minister, he too had demonetised some notes in 1978.

Late Ms. Gandhi took a “revolutionary step” in 1969 by nationalising 14 private banks.

They included SyndicateBank, Canara Bank, Corporation Bank and Vijaya Bank based in Mangaluru.

The Chief Minister said that the former Prime Minister Atal Behari Vajpayee had called late Ms. Gandhi ‘iron lady’ after India won the 1971 war with Pakistan and liberated Bangladesh.

B Ramanath Rai, Minister in-charge of Dakshina Kannada said that the party workers should work hard for making the party win all eight seats in the next Assembly elections.