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'Economic disaster' started on the day demonetisation was announced: Mamata

"Within minutes of announcement, I had said that it will ruin the economy and the lives of millions," Mamata Banerjee said.  

India TV News Desk India TV News Desk
Kolkata Published on: November 08, 2019 13:14 IST
'Economic disaster' started on the day demonetisation was announced: Mamata
Image Source : PTI

'Economic disaster' started on the day demonetisation was announced: Mamata 

West Bengal Chief Minister mamata Banerjee on Friday described demonetisation as a "futile exercise" and said that Centre's move to ban the high-value currency notes ruined country's economy and lives of millions of people. 

Taking on to Twitter, the Trinamool Congress supremo asserted that "Economic disaster" started on the day demonetisation was announced.

"Today is the third anniversary of Demonetisation. Within minutes of announcement, I had said that it will ruin the economy and the lives of millions. Renowned economists, common people and all experts now agree. Figures from RBI have also shown it was a futile exercise," Banerjee tweeted.  

"Economic disaster started on that day and look where it has reached now. Banks stressed, economy in a complete slump. All affected. From farmers to the young generation to workers to traders, housewives... everyone is affected," she added.

On several occasions, the Trinamool Congress supremo alleged that the Narendra Modi government's move was a "big scam" which benefited only a handful of people.

Not only Banerjee but several other Opposition leaders blamed the government’s demonetisation exercise for the current economic slowdown.

Congress leader Rahul Gandhi called demonetisation a terror attack. 

Gandhi’s sister and Congress leader Priyanka Gandhi Vadra called the move a “slayer of all evils”. 

Prime Minister Narendra Modi, in a televised address on November 8, 2016, announced to the nation that Rs 500 and Rs 1,000 currency notes -- 86 per cent of all currency notes in circulation in value -- would cease to be legal tender.

Modi had said that the decision was taken to crack down on black money, terror funding and corruption.

 

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