In a stinging attack on Prime Minister Narendra Modi over demonetisation, Communist Party of India-Marxist general secretary Sitaram Yechury on Sunday alleged that he had taken away the money of people like a 'pickpocket' and contested the claim about economic growth not being affected much.

Taking to Facebook, Yechury charged Modi with helping black money hoarders to exchange it with white money and said the government was 'playing fraud' by claiming that the growth rate will be 7.1 per cent despite the note ban.

The scathing remarks from the Marxist leader come a day after the ruling Bharatiya Janata Party hailed scrapping of old Rs 500 and Rs 1,000 currency notes calling it as a 'sacred movement' that will lead to a clean economy.

Yechury wondered how the saffron party can claim 'victory against black money' when the government has not produced data on money that was returned to banks and restrictions on withdrawals continue.

'Modi behaves like a pickpocket, who has picked pockets of the people first, and now says he will come out with welfare schemes,' Yechury said in the post.

Recalling that Modi had, in the run up to 2014 Lok Sabha polls, said that 90 per cent of black money is parked abroad, Yechury alleged that the prime minister was doing nothing on this front. -- PTI