Rahul Gandhi blames the ban on the notes for “destroying” the economy, allowing Bangladesh to “overtake” India.
On the fourth anniversary of the demonetization, Prime Minister Narendra Modi said on Sunday that the move helped reduce black money, increase tax compliance and formalize the economy. Former Congress Speaker Rahul Gandhi blamed him for “destroying” the Indian economy that allowed even Bangladesh to “overtake” India.
“Demonetization has helped reduce black money, increased tax compliance and formalization, and boosted transparency. These results have been very beneficial for national progress, ”Mr. Modi tweeted with the hashtag #DeMolishingCorruption.
On his Twitter account, the prime minister also shared graphs on how demonetization has ensured better tax compliance, improved tax rate and GDP, turned India into a less cash-based economy and provided a boost. to national security by addressing counterfeit bills and reducing the source of terrorism financing.
On November 8, 2016, Modi announced his government’s decision to ban all ₹ 500 and ₹ 1,000 bills as of midnight.
But Congress watched the day as Vishwasghaat Diwas (Betrayal Day) and launched the party’s online campaign “SpeakUpAgainst DeMoDisaster”.
Read also | 99.3% of demonetized currency returned: RBI
In a video, released as part of this campaign, Gandhi blamed demonetization for Bangladesh doing better than India in terms of economic growth and claimed that the move “destroyed” India’s economy and only helped “crony capitalist friends. “from Modi.
Speaking of Bangladesh “surpassing” India, Mr. Gandhi said, “The government says the reason is COVID, but if that’s the reason, there is COVID in Bangladesh and other parts of the world as well.” The reason is not COVID, the reason is Notebandi [demonetisation] and GST “.
“Pradhan Mantri ji He said it was a fight against black money. That was a lie. The attack was against you, Narendra Modi wanted to snatch your money and give it to his two or three crony capitalist friends. You were in ranks, not his crony capitalist friends. You put your money in the banks and Prime Minister Modi gave that money to his friends and gave them a 3.50 billion rupee loan exemption, ”he alleged.
Read also | Three years since demonetization, cash is back
‘Assault on the economy’
“Four years ago, Prime Minister Narendra Modi launched an assault on the Indian economy. It injured farmers, workers and small merchants. Manmohan singhHee He said the economy is going to lose 2% and that’s what we saw, ”said the former head of Congress.
The congressional leader claimed that the Modi government’s “flawed” goods and services tax destroyed small and medium-sized businesses and “cleared the way for his three or four crony capitalist friends”, and now the government aimed to “finish” with the farmers with the new farm bills.
“Narendra ModiHee destroyed the pride of India – our economy. Now we have to unite to rebuild it, ”said the congressional leader.
Read also | Two years after demonetization, the fake currency network intact
In a separate press conference, Congress Secretary-General Ajay Maken accused the government of changing its narrative to explain the rationale for demonetization, from fighting black money and corruption, to stopping “counterfeiting,” doing of India a “digital or cashless” economy, to return idle savings to banks. Stating that 99.3% of demonetized currency went back into the system, Mr. Maken claimed: “When it comes to corruption, we have seen an increase in the use of the immense power of money for MLA poaching and destabilization of state governments not led by the BJP. “
Former Finance Minister P. Chidambaram, as part of the campaign, said: “The first lesson that every ruler and every government must learn is that, even if good is not done to the people, no harm is done. The BJP-led NDA government did great damage to the Indian economy on November 8, 2016. “
Read also | One year since demonetization, CBI after 77 banknote ban cases
Top congressional leaders, including Mallikarjun Kharge, Shashi Tharoor and Salman Khurshid, also attacked the government as part of the party’s online campaign.
.
