PM unleashed financial anarchy through note ban: Congress

PM should apologise to nation, says Cong on RBI report

New Delhi / AMN

Stating that Prime Minister Narendra Modi unleashed a financial anarchy and economic chaos in the country by the note ban, the Congress today urged him to apologise to the people for taking a very wrong decision.

‘’This decision created an unprecedented upheaval, not only in Indian economy but also in peoples’ lives, Senior Congress Spokesperson Anand Sharma said in reference to yesterday’s RBI report which stated that 99 per cent of old currency had returned to the banks. Addressing a press conference here, Mr Sharma said the government had made tall claims about huge amount of fake currency being circulated in the market, but the RBI report disclosed that the value of fake currency doing rounds was just Rs 41 crore.

Demonetisation affected the common man badly, especially those belonging to the lower income group, who lost their jobs and were compelled to stand in serpentine queues to get their own money, the Congress leader alleged. He said Mr Modi had claimed during demonetisation that people were possessing black money worth Rs 3 lakh crore, which turned out to be a big lie. Mr Modi should respect the post he is holding and should not change his statements so very often.

The Prime Minister had given four reasons for his decision of demonetisation–first was to fight corruption, secondly to fight black-money to eliminate black-money, thirdly to stop terror funding and fourth to eliminate or flush-out the fake Indian currency notes in circulation. ‘’RBI’s report yesterday, has exposed the falsehood that was sold to the country. We had told the Prime Minister and the Government, this money belongs to the people of India, to the farmers, to the workers, to the housewives, to Government employees, to small entrepreneurs, to small industries, Mr Sharma said.

All the four reasons which the Prime Minister had given have proved to be false, and he inflicted misery upon the people of India, wrecked the country’s economy, shaved off 1.5% of India’s GDP which was equivalent to 2Lakh 25 thousand crores, the Congress leader said. The Note ban led to the loss of tens of millions of jobs in the unorganized sector, and crores and crores of Indian citizens had to stand in front of the Bank Branches and ATMs, and the process saw more than 100 died, he said, claiming that dozens committed suicide. If one took the cash in pipeline which is with the Co-operative Banks, the Rural Banks, Gramin Banks, also under treaty with Nepal and Bhutan, then one would see that almost all of the money was back, which was surely not the money which was with the smugglers or with the terrorists or proceeds of crime. ‘’Prime Minister owes an explanation. He has to accept moral responsibility.

He must apologize to the country and we will continue to force accountability on this issue,’’ Mr Sharma said.