Opposition parties calls demonetisation a ‘colossal failure’

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New Delhi, Aug 31, 2017: The opposition parties on Wednesday launched a scathing attack on Narendra Modi led-BJP government after the Reserve Bank of India revealed that Rs 15.28 lakh crore or 99 per cent of the Rs 15.44 lakh crore scrapped currency notes have been deposited into bank after demonetisation.

Taking a jibe at Modi over his bold step of scrapping old currency notes, Congress Vice President Rahul Gandhi asked PM to “own up” that demonetisation was a “colossal failure”.

While Trinamool Congress supermo and West Bengal chief minister Mamata Banerjee said on Twitter: “Is not the RBI’s revelation this evening on demonetisation pointing to a big scam? I feel it was a total flop show.”

Here are the reactions of other opposition leaders after RBI’s revelation:

  • Terming notes ban as an “anti-national act”, CPI (M) General Secretary Sitaram Yechury asked the Prime Minister that “All this for what.”  Yechury wrote on Twitter:

  • Former Finance Minister P Chidambaram didn’t just hit out at RBI for having “recommended” demonetisation but also said that “RBI ‘gained’ Rs 16000 crore, but ‘lost’ Rs 21000 crore in printing new notes! The economists deserve Nobel Prize.” Chidambaram wrote:

Read More: Chidambaram questioned RBI annual report, was demonetisation a scheme designed to convert black money into white ?

  • Congress spokesperson Randeep Surjewala shared a newspaper snippet on Twitter in which Prime Minister Narendra Modi had asked for 50 days addressing a gathering in Panaji, Goa.

Meanwhile, defending government’s decision of demonetisation, Union Finance Minister Arun Jaitley said that the aim of the notes ban was to check black money and corruption, not to seize people’s money.

He further said that the another objective was to promote digitisation and the cash exchange has reduced by 17 per cent. He said, demonetisation made people to even deposit their black money in their account which has been found in the data mining.

As a result of data mining, a large number deposits have been found doubtful. A large number of notices have been sent to persons concerned in this regard. The Minister said that due to this, tax collection has increased by 25 per cent after demonetisation.

On Wednesday, the RBI revealed Rs 15.28 lakh crore of the Rs 15.44 lakh crore demonetised currency returned to the financial system post the note ban last November.

Read More: 99 % demonetised currency returned to system: RBI report

Wefornews Bureau

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