A war of words over demonetisation

Opposition leaders strongly criticize the note ban, while the government preens over it

GN Bureau | November 8, 2017


#demonetisation anniversary   #Manmohan Singh   #Rahul Gandhi   #Mamata Banerjee   #Narendra Modi   #black money   #note ban   #demonetisation  
Prime minister Narendra Modi
Prime minister Narendra Modi

Prime minister Narendra Modi on Wednesday batted for demonetisation, while Congress leader Rahul Gandhi called it a tragedy as November 8 marked a year since the note ban took place.

“I bow to the people of India for steadfastly supporting the several measures taken by the Government to eradicate corruption and black money,” said Modi.
 
“125 crore Indians fought a decisive battle and WON,” he tweeted.
 
In another tweet, the prime minister asked people to take part in a survey. “What do you feel about the efforts to uproot corruption & black money.” The respondents were asked to share their feedback on demonetisation directly with PM Modi on the NM app.
 
Finance minister Arun Jaitley, in a facebook post said that November 8, 2016 would be remembered as a watershed moment in the history of Indian economy. 
 
“This day signifies the resolve of this government to cure the country from “dreaded disease of black money”.  We, the Indians, were forced to live with this attitude of “chalta hai” with respect to corruption and black money and the brunt of this attitude was faced particularly by the middle class and lower strata of society. It was a hidden urge of the larger section of our society for a long period to root out the curse of corruption and black money.”
 
Jaitley said that when the country is participating in “Anti-Black Money Day”, a debate was started that whether the entire exercise of demonetisation has served any intended purpose.  This narrative attempts to bring out positive outcomes of demonetization in short-term and medium-term with respect to stated objectives.
 
“RBI has reported in their Annual Accounts that Specified Bank Notes (SBNs) of estimated value of Rs.15.28 lakh crore have been deposited back as on 30.6.2017.  The outstanding SBNs as on 8th November, 2016 were of Rs.15.44 lakh crore value.  The total currency in circulation of all denominations as on 8th November, 2016 was 17.77 lakh crore,” wrote the finance minister.
 
The opposition was quick to take on the government on demonetisation.
 
Congress leader Rahul Gandhi tweeted
 
 
“One year since the scam of scams,” he said in a tweet.
 
West Bengal chief minister Mamata Banerjee turned her twitter DP black to protest against demonetisation.
 
 
In a facebook post Mamata Banerjee said that demonetisation is a big scam. “I repeat, demonetisation is a big scam. If thorough investigation is conducted, this will be proved. Demonetisation was not to combat black money. It was only to convert black money into white money for vested interests of political party in power.”
 
She said: “Black money became ‘white fund’ for them and the country was plunged into darkness. No black money could yet be brought out from the foreign accounts. In all practical sense, it yielded big, big zero.”
 
“Neither demonetisation could combat terrorism, nor black money nor aid to development of the country. By the devil act of demonetisation, the country has already lost its GDP worth nearly Rs.3 Lakh Crore. Crores of workers, particularly in the informal sector, lost their jobs. Farmers were left to starve. Over 100 people lost their lives,” she added.
 

Comments

 

Other News

Reopening: Old guidelines extended to November

As the Covid-19 situation continues to improve in India, the ministry of home affairs (MHA) has decided to continue the Guidelines for Reopening, which have already done away with nearly all of Lockdown restrictions in areas outside the containment zones. The MHA issued an order Monday and e

India records lowest new cases in three months

After a scare in September with the number of daily fresh cases inching above 90,000, India seems to have gone down the peak, with several key parameters giving cause for relief just in time for the annual festive season. The new confirmed cases in the 24 hours to Tuesday morning have fallen below 36,500 (

India’s case fatality rate lowest since Janata curfew

The annual festive season has brought good news for India: the country’s case fatality ratio has gone down to touch 1.5 percent, and the number of deaths per day has dipped below 500 in the 24 hours to Monday morning – bringing the situation closer to the number before the lockdown was imposed

“Script is the real hero”

Basking in the success of the new web series, ‘Scam 1992: The Harshad  Mehta Story ’,on SonyLIV, the OTT platform from Sony stable where the lead actors are new faces, NP Singh, MD and CEO of Sony Pictures Networks, has said that the script is the new hero. He credited the s

India’s active cases below 10% of total cases for three days

India’s trend of steadily decreasing active cases continues unabated. The number of Active Cases has remained below 10% of the total cases for the last three days, suggesting only one in 10 cases is active Covid-19 patient. The active cases comprise merely 9.29% of the total positive c

Cabinet clears bonus for non-gazetted employees

The union cabinet chaired by prime minister Narendra Modi on Wednesday gave its approval to pay productivity linked bonus (PLB) for 2019-20 to 16.97 lakh non-gazetted employees of commercial establishments like Railways, Posts, Defence, EPFO, and ESIC, with a financial implication of Rs.2,791 crore.

India Police Virtual Summit and Awards 2020

Archives

Current Issue

Opinion

Facebook    Twitter    Google Plus    Linkedin    Subscribe Newsletter

Twitter