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Note ban broke back of farmers, youth: Surjewala

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Bhopal | Friday, Nov 9 2018 IST
Launching a scathing attack against the Narendra Modi regime on the second anniversary of demonetisation, Congress Chief Spokesperson Randeep Singh Surjewala today said that the note ban broke the back of farmers, youth, women, small businessmen and shop owners. "While announcing the note ban, Prime Minister Narendra Modi cited three main reasons unearthing of black money, obliteration of counterfeit currency and elimination of terrorism and Naxalism," Mr Surjewala told media here.

Citing a Reserve Bank of India (RBI) report that 90 per cent of demonetised currency returned to banks, he said that the rest money was deposited with Nepal and Bhutan, or was deposited with the court as case property.

"Where has the black money gone? On December 10, 2016, the Modi regime told the Supreme Court that black money to the tune of Rs 3 lakh crore will be rendered obsolete and would not be deposited. Though that did not happen, the Centre is now forcing the RBI to release Rs 3 lakh cr from its reserve account," he said.

"Likewise, notes valuing only Rs 58.30 cr 0.0034 per cent were found to be fake. Terrorist and Naxal incidents are still continuing unabated," said Mr Surjewala.

He said that the cost of printing and distribution of new notes eclipsed its benefits and cash circulation increased. The exercise cost the economy Rs 3 lakh crore and 15 lakh jobs. More than 120 people died in queues. More UNI PS

-- (UNI) -- C-1-1-DL0045-1578840.Xml

 
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