Mamata Banerjee holds demonetisation as ‘disaster’

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KOLKATA: West Bengal Chief Minister Mamata Banerjee Thursday said that demonetisation was a "disaster" for the country on its second anniversary.

 

The chief minister said she had been describing it as a "dark day" since demonetisation was announced by Prime Minister Narendra Modi in 2016.

"Darkday, today is the second anniversary of Demonetisation disaster. From the moment it was announced I said so, renowned economists, common people and all experts now agree ", Banerjee wrote on her Twitter handle.

Other top political leaders expressed their frustration through micro-blogging site ‘Twitter’.

"Today marks the 2nd anniversary of the ill-fated and ill-thought demonetisation exercise that the Narendra Modi government undertook in 2016. The havoc that it unleashed on Indian economy and society is now evident to everyone”, Former PM Manmohan Singh said.

“Though the list of financial scams of Modi government is endless, demonetisation was a self-inflicted a deep wound on Indian economy which even two years later remains a mystery why the country was pushed into such a disaster?” Delhi CM Arvind Kejriwal tweeted.

“Modi and his minions claimed demonetisation will end black money, finish corruption, terminate terrorism, and bring only digital transactions. Two years later, Modi is silent. The truth is that he singlehandedly destroyed the economy, lives and livelihoods. Modi has clearly forgotten what he said. It is our duty to remind him of what he did to India and us Indians.” Communist party leader Sitaram Yechury tweeted.

On 8 November 2016, the Government of India announced the demonetisation of all Rs 500 and Rs 1000 banknotes of the Mahatma Gandhi Series. It also announced the issuance of new Rs 500 and Rs 2000 banknotes in exchange for the demonetised banknotes.

The government claimed that the action would curtail the shadow economy and reduce the use of illicit and counterfeit cash to fund illegal activity and terrorism.

 

 

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