'Only Mamata Banerjee got it spot on', says TMC on Centre's demonetisation policy

KOLKATA: Stating that it was only Chief Minister Mamata Banerjee who was the first person to criticise demonetisation, Derek O' Brien, Trinamool Congress Rajya Sabha MP, on Tuesday said the country was yet to come out of the shock of note ban and condition of people had turned worse.

The MP lambasted Narendra Modi on the fifth anniversary of demonetization, which finally led to financial breakdown of the country. Derek tweeted: "On the night of 8 November 2016, barely hours after #Demonetisation was announced, only @MamataOfficial got it spot on."

On the night of November 8, 2016 Modi imposed a ban on high value currency notes.

He did not even take the permission of the Cabinet and announce the important decision on television.

Within half an hour after the announcement, Chief Minister Mamata Banerjee had criticised the decision and described it as a draconian one and demanded its withdrawal. She had said it would ruin the country financially. Later, the economists all over the globe resonated with what she had said.

In the next few days, people saw long queues outside the banks where people had gone to surrender their high value notes.

More than 200 people died all over the country while waiting in the queues. Mamata Banerjee went and talked to the people who stood in the queues and demanded withdrawal of the decision.

Derek O' Brien said the country was yet to come out of the shock. The economic condition has turned from bad to worse and the middle class had been the worst-hit.

"Today the rise in the price of fuel, cooking gas and essential commodities has affected the middle class so badly that they are unable to run the household," he added.