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National Politics

“Demonetization terror attack devastated economy” : Congress leader Rahul Gandhi

Congress’ chief spokesperson and senior leader Randeep Surjewala also hit out at Prime Minister Modi for the move, described him as “Today’s Tughlaq”.

New Delhi: Congress leader Rahul Gandhi on Friday in his strongest attack yet on the Narendra Modi government over demonetization compared the exercise to a terror attack and said those behind the “vicious” assault have yet to be brought to justice.

Gandhi’s remarks against the government came on the third anniversary of the demonetization of high-value currency in 2016. On November 8 Prime Minister Narendra Modi had announced to the nation that year that Rs 500 and Rs 1,000 currency notes would cease to be a legal tender from midnight.

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“After 3 years have passed since the Demonetisation terror attack that devastated the Indian economy, taking many lives, wiping out lakhs of small businesses and leaving millions of Indians unemployed. Those behind this vicious attack have yet to be brought to justice,” said Gandhi

Many economic analysts have held that demonetization had hit the unorganized sector the hardest causing loss of jobs and initiating a spiral effect in which consumption declined due to loss of earning, particularly in the rural sector. The current economic slowdown has partly been blamed on the aftereffects of the note ban.

On November 8, 2016, Prime Minister Modi had said that the decision was taken to counter corruption, hoarding of black money and terror funding. Nearly 86 per cent of all currency notes in circulation were devalued.

 

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