Note ban derailed economy, says Mamata Banerjee

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KOLKATA: West Bengal Chief Minister Mamata Banerjee and Trinamool Congress supremo on Friday said the BJP-led central government's move to ban high-value currency notes on this day in 2016 ruined the country's economy.


The Trinamool Congress supremo, on the third anniversary of note ban, described the demonetisation as a ‘futile exercise’ and asserted that she knew from the very beginning that the decision would ruin millions of lives.

"Today is the third anniversary of #DeMonetisationDisaster. Within minutes of the announcement, I had said that it will ruin the economy and the lives of millions. Renowned economists, common people & all experts now agree. Figures from RBI have also shown it was a futile exercise," the chief minister tweeted.

"Economic disaster started on that day and look where it has reached now. Banks stressed, economy in a complete slump. All affected. From farmers to the young generation to workers to traders, housewives... everyone is affected," she added.

On the first anniversary of note ban, she had turned her Twitter display picture black in protest.

During her campaign for Lok Sabha elections earlier this year, the Trinamool Congress supremo had promised to conduct a probe into the demonetisation drive, if voted to power at the Centre.

On several occasions, Banerjee alleged that the Narendra Modi government's move was a "big scam" which benefited only a handful of people.

On November 8, 2016, Prime Minister Narendra Modi had addressed the nation and announced that Rs 500 and Rs 1,000 currency notes -86 per cent of all currency notes in circulation in value- would cease to be legal tender.

Modi had said that the decision was taken to crackdown on black money, terror funding and corruption.

 

With inputs from Agency

Image credit: NDTV

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