Withdrawal of ₹2,000 notes will hit traders hard, says Kerala CM

Centre following policies that lack long-term vision, says Pinarayi

The withdrawal of ₹2,000 notes will adversely affect traders and push them into crisis, Chief Minister Pinarayi Vijayan has said.

Addressing a public gathering at the Kozhikode beach as part of the State conference of the Kerala Vyapari Vyavasayi Samithi on Tuesday, he said the Centre’s move would only help destabilise the economy. By withdrawing ₹2,000 notes, around 11% of currency is being taken back. The Centre had been following policies that lacked long-term vision, the Chief Minister said.

Mr. Vijayan also highlighted the faulty and unscientific implementation of the Goods and Services Tax regime, which, he said, had affected traders. He said coconut had the same tax rate in Kerala, where it was an essential commodity, and other States. Mr. Vijayan said such steps would push traders into bankruptcy.