New Delhi: Finance Minister Nirmala Sitharaman has welcomed the Supreme Court's decision to justify the Central government's demonetization move in November 2016. Sitharaman tweeted about the court's decision and said that there were talks between the Center and RBI for six months. This decision was later proved correct. This decision cannot be held wrong just because it was implemented by the central government.

Sitharaman said that the Supreme Court's decision on demonetization is welcome. A five-judge bench upheld demonetization after careful consideration of the matter. Several petitions challenging the Centre's decision have been dismissed. On November 8, 2016, the central government announced the withdrawal of Rs 500 and Rs 1,000 notes from circulation.

It may be noted that while giving a major verdict on Monday, the Supreme Court upheld the central government's decision to demonetize Rs 500 and Rs 1000 notes in 2016. The Supreme Court gave this verdict while dismissing 58 petitions challenging the demonetization of the Modi government. A 5-judge constitutional bench headed by Justice Abdul Nazeer ruled in favor of demonetization with a majority of 4:1. The bench had said that economic decisions cannot be changed. At the same time, Justice BV Nagaratna said that I agree with fellow judges but my arguments are different. Earlier, a five-judge constitutional bench headed by Justice Abdul Nazeer had reserved its verdict on December 7 after five days of debate. Justice Abdul Nazeer, Justice BR Gavai, Justice AS Bopanna, Justice V Ramasubramanian, and Justice BV Nagaratna remained involved.

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