New Delhi, Nov 16 (Agencies) : As the winter session of Parliament began on Wednesday, the Lok Sabha was adjourned for the day after Speaker Sumitra Mahajan read out the obituaries of former members of Parliament. The debate over demonetisation gets under way in the Rajya Sabha.

Highlights of the post lunch session:

Sitaram Yechury, CPI(M) questions the government on the demonetisation move. He questions the logic behind the selective demonetisation. He says only 6% of black money in India is in cash to drive his point that demonetisation won't curb illicit wealth.

During the course of the debate, Mr. Yechury rakes up the funding of elections."Why should the corporates fund us? It's an investment for them," he says.

What is the meaning of the move. People can easily pass it off as Thuglak shahi, he says.

People are suffering and the suffering is increasing by the day, Mr. Yechury.

"Why are you agonising the people? Is 'I control your personal life" the message? What else it is if not a fascist message?" Mr. Yechury says.

"People can't treat their dear ones in hospital."

"Why selective relief? How can your unit in WB can deposit money before the PM announces it?

"This needs to be investigated. Either through a JPC or any other way.

"Immediately, till alternate arrangements are made, allow this notes to be transacted by all. The PM himself said it will take 50 days to do alternate arrangements.

Sharad Yadav, JD(U) attacked the govt. move not allowing people to exchange money more than once.

Initiating the debate in the morning, Congress leader Anand Sharma says that for the first time since Independence, a Prime Minister has told the people of a big decision. He claims there were counterfeit currency in circulation. The House stands together on the issues of black money, terror, counterfeit currency and drug money.

Mr. Sharma questions the claim of the government that 86 per cent of the money under circulation was scrapped in one stroke. "Did you think that the majority of that money was counterfeit? Cash accounts for about 12-14 per cent of our GDP and the common man transacts using cash,'' he says.

"In August, the government said that only 0.02% of the currency in circulation was counterfeit. To scrap the money and create an undeclared emergency is strange. The government needs to tell if the money that was with the common people — the workers, the housewives and the government servant was 'black'. This is the message we sent to the world. Don't give the country a bad name," he says.

Mr. Sharma continues, "Agriculture is important in India. And, we are self-sufficient because of this. Most farmers take cash for their produce in mandis [markets]. The payments related to Kharif crops are yet to come, but and Rabi is already happening."

He says crores of people are waiting in queues and most people eat at dhabas, where cards are not accepted. "Do dhabas accept credit cards?" And, argues that if one has to go by that logic, then the U.S. should not print dollars. He claims the government has made criminals out of common people. "Which terrorist goes to bank with counterfeit notes? Common people do."

Mr. Sharma says that nations have sent advisories to their nationals to think before visiting India. Raising his pitch, he asks the government, "Which law gives you the right to make us beg before you for money we have earned?" And the government has broken the backbone of the economy — the cash transactions, he alleges.

Now, a bit of sarcasm from the Congress veteran. "You all have become surgeons without getting a doctoral degree." He says there is a surgical strike on everything. He demands the disclosure of the names of the people holding money in Swiss banks. "Reveal the names of those who took huge loans and did not pay back." He asserts that the country belongs to all, not to the govt.

The leader sharpens his attack on the govt. saying, "You did not get black money. You did not generate employment." If the current trend continues, the government would be forced to change their definition of 'achhe din'.

He wonders, "How is there such inefficiency if you had prepared it? Why could you not replace the notes?" He also attacks the Prime Minister, saying, 'Mr. Modi addressed the nation five times from Japan.' The Prime Minister was in a bullet train in Japan when people were standing in long queues outside ATMs and banks back home.

He says Mr. Modi also insulted former Prime Ministers by saying "people looted the country for 70 years." Mr. Modi also insulted the poor by saying black marketeers are standing in queues.

The attack gets personal now. Mr. Sharma says the Prime Minister travels the world, changes five attires a day and claims this renunciation.

Demonetisation was not kept as a secret, as claimed by the government. "Today a report has come. It says the SBI knew about demonetisation in March. In October, it was published in English papers. And, then in Dainik Jagran." He claims the government selectively leaked the information and the BJP units withdrew crores of money before the announcement.

It's BJP's turn. Minister Piyush Goyal speaks:

He begins with a rebuttal, saying, "I think Anand Sharma is weak in economics." He claims the country is welcoming Mr. Modi's decision. "Some people are worried, I understand. But the govt. cant help if the corrupt are unhappy." For the first time, honest people are being honoured and the corrupt are being punished.

And, while the Minister is speaking, BSP chief Mayawati says, "the Finance Minister seems sad. I request PM be called here." She says even the BJP members were looking sad and crestfallen.

Mr. Goyal continues, "the RBI realised that more than half of Rs. 500 and Rs. 1,000 notes did not come into currency chests for quite some time." The announcement was made so that the hidden notes are replaced by new cash. He defends the government's initiatives to fight corrupt practices, cites steps taken by the govt. on coal blocks allocation and spectrum allocation.

"Why should be have pre-informed people? So that the corrupt took early steps?" The Minister says honesty and inflation are linked — more honesty, lesser the inflation. If the government gets more money in terms of taxes, it can spend more on welfare measures. The move also serves as a warning to This is also a warning to the corrupt. He calls the move a "festival of honesty and integrity".

On the hardships faced by people, he says the queues outside ATMs and banks are becoming smaller, except in 2-3 cities. The decision to demonetise was taken by the RBI.

Replying to Mr. Sharma's remarks on names of people holding accounts in Swis banks and taking a dig at the Opposition, Mr. Goyal says a former Finance Minister had told that foreign countries would not share information if the names were made public.

He elaborates on the rationale behind the decision, saying the step will bolster revenues and help the people. "It is unfortunate that political parties are opposing it." Attacking the Opposition, he says, "You claimed we are a government for businessmen. The step proves that we alone fight tax evasion and black money. The overdues are now being paid. And, it should make it clear that we are the ones fighting against black money."

Ghulam Nabi Azad says PM must hear out Opposition views

Leader of the Opposition in the House Ghulam Nabi Azad begins his address with an appreciation of Ms. Mayawati's statements. He says the Prime Minister doesn't know the sentiments of the main Opposition parties. And, proposes a solution. "If he hears it, the problems can be solved in an easier way."

Ram Gopal Yadav: no rich person suffered in this exercise:

Samajwadi Party leader Ram Gopal Yadav says the common people are facing a lot of trouble and claims that no rich person suffered in this exercise. There were no buyers even in Khan Market in New Delhi. The situation is worser than that of the one during Emergency, and claims that no one wins elections through money.

"Women have died of heart attacks after they losing their small savings," he says, adding that only the poor in villages are being subjected to this treatment. The demonetisation has had an impact on vegetable sellers who are throwing off their rotten vegetables. "No one accepts Rs. 2,000 note in villages."

CPI(M) general secretary Sitaram Yechury interjects, says "no one is accepting my Rs. 2,000 notes since Nov. 9."

Mr. Yadav has a message to the Finance Minister. "Your core voter is angry as he deals in black money. Don't announce elections early, or women in villages will beat your activists with belan [rolling pin]!"