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Demonetisation, a flop: Delhi CM Kejriwal

Press Trust of India  |  New Delhi 

Calling a "flop", Chief Minister Kejriwal today alleged that Prime Minister Modi's "arrogance and obstinacy" has pushed the country 10 years back and that the measure has "failed" to curb black money, corruption, circulation of counterfeit currency and terror financing.

Kejriwal claimed that and corruption have "increased" by 10 times ever since the ban of high-value currency and demanded that cases of cheating and be lodged against those responsible in the Centre for the mess.

The Chief Minister also alleged that has settled its "black money" before move by buying land in and other states.

"Today, it has been 20 days of introducing of high currency notes. It has completely failed to curb black money, funding to terrorism, fake notes and corruption. has flopped," he said while addressing a press conference.

The Chief Minister alleged that counterfeit notes are being churned out even faster than what RBI is doing which gives rise to suspicion as to whether it is a way to convert into white.

"Since was announced, Rs 8 lakh crore has been deposited by the people in their bank accounts and according to our information, out of them, no has been deposited so far...The PM's arrogance and obstinacy has pushed the country 10 years back.

"In comparison to October, corruption level and generation of have increased by 10 times. US Dollar is legally available for Rs 70, but in black market, it is being bought at Rs 116 per USD.

"Gold is also being bought for Rs 30,000 per 10 gm, but through wrong channel, it is being bought for Rs 56,000," he alleged.

The Chief Minister said that Centre has also brought drastic cuts in fixed deposit interest rate which will pile misery on the elderly.

"The Prime Minister is probably avoiding Parliament as he is scared of facing certain allegations against him," Kejriwal said.

(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)

First Published: Mon, November 28 2016. 19:29 IST