Demonetisation, GST designed to destroy SMEs: Rahul

He says It was a financial attack on small traders to clear way for big players’

Demonetisation and  Goods and Services Tax introduced by Prime Minister Narendra Modi were a well-thought-out strategy for destroying small and medium businesses in the county to clear the way for big players, Congress leader Rahul Gandhi said on Thursday.

He was addressing a public meeting at Chalakudy in connection with the Bharat Jodo Yatra on Thursday.

“Many thought demonetisation was a mistake committed by the Prime Minister without understanding the consequences. It is not true. The PM knew exactly what demonetisation would do to the country,” he said.

“It was a financial attack on the country's small traders. It was designed to destroy their cash flow and businesses. He knew it very well that when small/medium businessmen are deprived of cash flow even for a small period, they are finished. Millions and millions of small/medium businesses were wiped out,” Mr Gandhi said.

“The Prime Minister did not stop there. He designed the GST. It was again designed to break the backbone of small businesses. Idea was to introduce complicated taxes. To engage time of businessmen to file GST month after month. To put pressure on them and to harass them,” he added.

“You know how demonetisation and GST affected small and medium players in various fields and they continue to affect them.”

“Do you think demonetisation and GST are harming big businesses? Do you think they affect their cash flow? They were designed to remove you from the way of big players,” he told traders.