Congress asks PM Modi to address demonetisation woes

Congress on Tuesday demanded that the government come out with a “white paper” on the negative impact the demonetisation decision six years ago left on the economy and its lingering after-effects.

The opposition party said none of the stated objectives of the note-recall was met and questioned the logic of increasing currency supply in the economy. It also said that counterfeit notes recorded a 10.7% uptick in 2021-22.

Congress president Mallikarjun Kharge tweeted, “Demonetization was promised to free the country of black money. But it destroyed businesses and ruined jobs... 6 years after the ‘masterstroke’, the cash available in public is 72% higher than that in 2016.


PM is yet to acknowledge this epic failure that led to the fall of economy.” In his critique, Rahul Gandhi said, “Demonetisation was a deliberate move by ‘PayPM’ to ensure 2-3 of his billionaire friends monopolise India’s economy by finishing small & medium businesses.”

Party spokesman Gaurav Vallabh made a series of demands, saying, “We demand a white paper on demonetisation. (Revival) plan for unorganised sector and MSMEs (micro, small and medium enterprises) who had suffered most in this exercise. And a plan for employment creation.”