Mamata calls note ban 'act of devil' and big scam

Kolkata: On the eve of the first anniversary of demonetisation of high value notes, Chief Minister Mamata Banerjee once again hit out at the Centre, calling it an "act of devil" and a big scam that was announced to help vested interest groups convert black money into white money, leading to the loss of nearly Rs 3 lakh crore to the GDP.

"Demonetisation is a big scam. I repeat, demonetisation is a big scam. If a thorough investigation is conducted, this will be proved," the Chief Minister alleged on Facebook.

"Demonetisation was not to combat black money. It was only to convert black money into white money for vested interests of political party in power (sic)," she alleged.

Neither had it brought back black money stashed abroad nor it could combat terrorism or help the country develop, she claimed.

"In all practical sense, it yielded a big, big zero," Banerjee said.

Prime Minister Narendra Modi had announced banning of high-value notes on November 8 last year.

It may be recalled that within half an hour after the announcement, the Chief Minister gave her reaction and alleged that the policy would affect the country's economic growth very badly. She attended meetings that were held to criticise note ban in different parts of the country including New Delhi. The country had a horrifying experience with long queues infront of banks and even people dying while waiting in lines to acquire cash. Thousands lost their jobs and many businessmen left the country.

Crores of workers, particularly in the informal sector, lost their jobs. Farmers were left to starve and over 100 people lost their lives. People had no access to their own money in the banks, even in emergency situations. The memories of untold sufferings and pain thrust upon the common people still haunt.

Mamata Banerjee has urged people to observe a Black Day on Wednesday. She recollected how she had protested against the note ban from the very start. She wrote: "From Day 1, I had protested against this draconian decision of demonetisation by the Central government and requested for its immediate withdrawal."

The Indian economy has been ruined; so has plummeted the growth rate of the country.

The GDP fell to 6.1 percent growth in between January and March, 2017 compared to 9.1 percent in the previous year. It further plummeted to 5.7 percent between April and June, 2017, compared to 7.9 percent in the previous year."

She further maintained: "More than 75,000 industrialists were compelled to leave India and settle abroad and become NRIs because of harassment in the prevailing situation. Business potential worth lakhs and lakhs of crore in India was thus lost.

Demonetisation was a "Black Decision" worth every sort of condemnation.

"8th November this year will be observed as "Kaala Dibas" (Black Day) to protest against demonetisation and the unparalleled damage it caused to the country and its economy."

She expressed her solidarity with those who had undergone great suffering and are still reeling under the drive. It may be mentioned that the state government had given financial assistance to those who had lost their jobs and came back to their villages to start business. She wrote: "We are for all the people who suffered and still continue to suffer. Their fight is our fight and we are committed to stand by them."

Numerous rallies will be organised to condemn note ban on Wednesday in Behala, Dharmatala, Tollygunge and Chetla respectively.