Congress and TMC questions Demonetization on 5th Anniversary


New Delhi: 8th November 2021 marked the 5th Anniversary of the ‘Demonetisation’ by the Indian Government. While the ruling BJP calls this move an ‘achievement’. Opposition parties Congress and Trinamool Congress and Others have criticized the move, calling it a disaster of the 21st century.
Congress leader and UP in-charge Priyanka Gandhi Vadra attacked the government via tweet. She asked questions to the center. She tweeted, “If demonetization was a successful move, then why hasn’t corruption ended? Why didn’t the black money come back? Why hasn’t the economy gone cashless? Why didn’t terrorism hurt? Why is inflation not controlled?”
Similarly, Derek ‘o’ Brien condemned the day and labeled it as a ‘Black Day’. He tweeted with a screenshot of Mamta Banerjee’s tweets concerning the move back in 2016. He added, Mamta called and knew it as a ‘draconian decision’. 

On 8th November 2016, PM Modi Addressed the nation and declared that 500 and 1000 rupee currency notes will no longer be considered as legal tender. This move affected the Indian economy to its core. However, The move didn’t stand as per the expectations of Black Money returning. But, UPI and Digital Payments gained momentum in the next 2-3 years. GDP suffered a loss of 1.5% in Fy17 for the same. 


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