CM slams Centre, calls it 'shameful tragedy'

Kolkata: With the Reserve Bank of India's report of 99 percent banned notes back in the system; Chief Minister Mamata Banerjee attacked the Centre stating its decision of demonetising high-value notes as a shameful tragedy.

It was the Chief Minister who was the first to raise her voice against the "anti-people" step after Prime Minister Narendra Modi announced demonetisation of high-value notes. She had claimed that it would be of no help and instead, leave an adverse effect on the country's economy with small and medium scale entrepreneurs, farmers and unorganised sector to be the worst hit. With the RBI's report, Banerjee's claim has once again been established.

The RBI said on Wednesday that banks received 99.3 percent of the Rs 15.41 lakh crore in junked Rs 500 and Rs 1,000 notes in circulation on November 8, 2016, when the note ban was announced.

In a tweet in this connection, the Chief Minister stated on Wednesday: "As soon as the draconian #DeMonetisation was announced on November 8 in 2016, I immediately sensed that this is a big anti-people measure. It will severely affect common people, especially, farmers, unorganised sector, small entrepreneurs, hard-working middle class."

About the annual report, the Chief Minister further maintained: "Today, the RBI in its annual report for 2017-18 has vindicated our apprehension. 99.3% of the money has come back to the banking system."

After taking a dig at the Centre, Banerjee raised several questions in connection with the output of demonetisation. She stated in the tweet: "My first question now is — where has the black money gone? My second question – was this scheme hatched to allow some black-money holders to quietly convert their black money into white? What a tragedy and what a shame!!!"

It was in November 2016 that the Prime Minister had announced demonetisation of Rs 500 and Rs 1,000 notes. Since then, the Chief Minister had over and again protested against the move as it led to immense harassment of the common people. Many were even killed after falling ill while standing in long queues outside the banks throughout the day.

Moreover, she had repeatedly attacked the Centre stating demonetisation was an escape route for black money-holders to convert the same to white.