New Delhi: On the fifth anniversary of demonetization ('notebandi), Congress leader Priyanka Gandhi Vadra called it a "disaster" and asked why, if the move was successful, corruption hasn't ended and black money hasn't been returned to the country.
Prime Minister Narendra Modi announced on national television on November 8, 2016, that his government had decided to ban all currency notes with higher denominations than Rs 500 and Rs 1,000 beginning at midnight on the same day. Why has not corruption ended if 'notebandi' or demonetisation was successful?" Why hasn't the black market resurfaced? What is preventing the economy from moving away from cash? Why hasn't there been a counter-terrorist strike? Why hasn't the rate of price rise been slowed?" In a Hindi tweet with the hashtag "Demonetisation Disaster, Priyanka Gandhi said this.
The Congress has claimed that demonetisation was not in the people's best interests and had negative economic consequences, which the Narendra Modi government has repeatedly denied. CPI member Binoy Viswam also chastised the government over demonetisation. Meanwhile, the Left parties have decried the government's handling of the economy, blaming it on the Centre's demonetisation policy. CPI(M) general secretary Sitaram Yechury questioned the move, claiming that it "decimated the informal sector."
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