He was speaking at a protest against the withdrawal of the Rs 500 and 1,000 rupee notes before the Reserve Bank of India office here. Also taking part in the protest was Chief Minister Pinarayi Vijayan.
Yechury said that under the Constitution, the people were supreme.
“The Prime Minister cannot decide the way people live and lead their lives. This is unacceptable,” he said, and warned of widespread protests against the demonetisation that has led to a nationwide cash chaos.
Yechury said almost all state governments had suffered loss of revenue because of this move.
He said the state governments led by the CPI-M would take the lead in mobilizing the non-BJP state governments to jointly demand that the central government compensate for this loss