Demonetisation 2nd anniversary: Rahul Gandhi slams Govt for failing the nation, terms it ‘criminal financial scam’

New Delhi: Observing the second anniversary of demonetisation across the nation with protests, the Congress party today said the major financial shake-up was a carefully planned ‘criminal financial scam’. The party termed the move a ‘disaster’ which cost over 1.5 million jobs and wiped India’s economy by at least 1 per cent.

Congress, Rahul Gandhi, Jaswant Singh Yadav, Rafale deal, Rajasthan
Congress President Rahul Gandhi (file photo)

Terming it a monumental blunder by the Prime Minister, Congress President Rahul Gandhi said demonetisation was a tragedy that was self-inflicted and suicidal that destroyed millions of lives and ruined thousands of India’s small businesses.


“The worst hit by demonetisation were the poor, forced to queue for days to exchange their meagre savings. More than a hundred and twenty Indians died in those queues. We must never forget them,” Rahul said in a press statement issued on Thursday.

Read the full statement here


He stated that since 2016, the economists around the world have analysed the crippling impact of demonetization, concluding that the move was an unmitigated disaster that didn’t meet a single of its stated objectives.

Watch the Congress video on demonetisation 


“From a war against counterfeit currency and terrorism, to permanently removing the scourge of black money; from increasing savings to forcing a shift to digital transactions; not a single stated objective of the government has been met,” he said, adding that the people of India will not rest till the full truth about demonetization.

The demonetisation announcement of November 8, 2018 

On November 8, 2016, Prime Minister Narendra Modi announced that the old Rs 500 and Rs 1,000 notes would seize to be legal tender from the midnight. He said the decision was taken to combat black money and corruption.

Citizens were given around 50 days to exchange the notes for the new Rs 500 and Rs 2000 notes.

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