Congress Criticizes Demonetization on its Seventh Anniversary

Congress Criticizes Demonetization on its Seventh Anniversary

VoM News Desk | November 8, 2023 | 04:12 PM IST | Politics | Follow on Google News

Congress Criticizes Demonetization on its Seventh Anniversary

Congress Criticizes Demonetization on its Seventh Anniversary

On the seventh anniversary of India’s contentious demonetization initiative, the Congress party has launched a scathing critique of the policy, led by their President Mallikarjun Kharge. He described the move as the most significant attack on India’s economy and the wellbeing of its citizens, emphasizing the ongoing struggle of the Indian populace. Kharge questioned the tangible benefits of the demonetization, probing the rationale behind the immense queues at banks and whether the initiative successfully eradicated black money, reduced terror activities, and curtailed counterfeit currency. He also highlighted the irony of the increased cash circulation since the policy’s implementation.

Rahul Gandhi Labels Demonetization a ‘Conspiracy’

Rahul Gandhi, the former Congress President, characterized the 2016 demonetization as a conspiracy that targeted the employment sector, labor income, small businesses, farmers, and the unorganized economy. He suggested that the policy was designed to favor a small capitalist minority at the expense of the common populace. This sentiment was echoed by Congress leader Jairam Ramesh, who accused the demonetization of breaking the backbone of the Indian economy, leading to high unemployment and wealth concentration among a few, thus supporting the BJP financially while the general public continues to face joblessness and inflation.

Opposition Leaders Question Demonetization’s Effectiveness

As the demonetization turns seven, other opposition leaders have joined the Congress in questioning its success. Adhir Ranjan Chowdhury, the leader in the Lok Sabha, took to social media to ask whether the day should be celebrated or mourned due to the policy’s perceived failure. Despite the government’s assertion that demonetization has led to an increase in tax returns and reduced black money, the opposition counters with reports like that from the Centre for Monitoring Indian Economy, which links the policy to significant job losses.

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