Demonetisation, a useless exercise: Sushmita Deb, AICC spokesperson

NEW DELHI: Congress has said after the revenue secretary’s statement that “almost the entire cash in the system after demonetisation is likely to be deposited back into the system”, PM Modi’s “last wicket in defence of demonetisation, too, has fallen.”

It said the RBI governor’s projection of a dip in GDP “has also vindicated our stand that the demonetisation will not only bring down GDP but also stall the possibility of any cut in the interest rate”.

“This whole demonetisation exercise is a complete failure and yielded nothing. It has battered economy, caused grave inconvenience to crores of people, caused death of at least 84 people, resulted in loss of lakhs of jobs,” AICC spokesperson Sushmita Deb said.