The real intention behind demonetisation was to help crony capitalists in India: Rahul Gandhi

Addressing the media at the Congress headquarters, Rahul Gandhi raised doubts over the entire exercise of demonetisation and clearly stated that the entire purpose behind it was to help a few capitalists in India.

Citing the RBI report, he said, the move to demonetise Rs 500 and Rs 1000 bank notes has hurt the small and medium enterprises. Demonetisation helped the crony capitalists to turn their Black money into white, said Rahul. Rahul also questioned why Arun Jaitley was silent to his challenge of setting up a joint parliamentary committee to look into the Rafale deal.

PM Narendra Modi and Arun Jaitley has singularly destroyed the fabric of the Indian economy, reiterated Rahul. He also said that demonetisation has helped firms like Amazon to gain a foothold in the India market.


Continuing his unending criticism over the Rafale deal, he said PM Modi has helped Anil Ambani to benefit from the deal.

In a report, Reserve Bank of India yesterday had said that 99.3% of demonetised currency, or Rs 15.31 lakh crore of the Rs 15.41 lakh crore demonetised, has been returned back to the banking system

The government, however, said that demonetisation had met most of its objectives. Economic affairs secretary S C Garg told reporters that the process of demonetisation was now complete.

Countering opposition's charges on the failure of demonetisation, finance minister Arun Jaitley had said that the large purpose of demonetisation was to make India a 'tax compliant.'

He also said that the number of new returns filed has gone up considerably in the past two years. Post demonetisation, the cash deposited in banks is now identified with the owner, stated Jaitley