New Delhi: Alleging that demonetisation was independent India's "greatest organised loot," the Congress on Tuesday demanded a White Paper from the government on the move.
On the sixth anniversary of demonetisation, Congress leader Rahul Gandhi attacked Prime Minister Narendra Modi over the move saying that it was a deliberate move by "PayPM" to ensure two-three of his billionaire friends monopolize India's economy.
On this day in 2016, Prime Minister Modi had announced the decision to withdraw Rs 500 and Rs 1,000 denomination notes with the ultimate aim of reducing corruption and black money in the economy.
"Demonetisation was a deliberate move by 'PayPM' to ensure 2-3 of his billionaire friends monopolise India's economy by finishing small and medium businesses," Gandhi said in a tweet in Hindi.
The Congress has often used 'PayCM' and 'PayPM' jibe at the BJP to allege corruption under its rule at the Centre and in states.
"On this day in 2016, the Modi govt arbitrarily demonetised Rs 500 and Rs 1,000 notes. The government failed in its objective to make India a digital, cashless economy as the currency with public stands at a new high of 30.88 lakh crore as of October 21 almost 72 per cent higher than six
years ago," the Congress said in a tweet from its official Twitter handle.
Addressing a press conference, Congress leader Gourav Vallabh said that the PM had surprised all by declaring that currency notes of Rs 500 and Rs 1,000 were being scrap on this day in 2016 and the decision triggered "panic, creating unspeakable problems linked to cash and destroying countless small and medium businesses."
The cash in circulation today is Rs 30.88 lakh crore, while it was merely Rs 17.97 lakh crore in November 2016, he said, adding that black money didn't come, only poverty came and the economy became weaker, not cashless.
The Congress spokesperson also alleged that there had been an increase in terror funding, contrary to the claims of the Modi government that demonetisation would severely impact the cash flow to terrorist organisation.
He also cited a recent development where India informed the United Nations Security Council's (UNSC) Counter-Terrorism Committee (CTC) that there had been a significant increase in cross-border terror activities in Jammu & Kashmir since 2021-end.