Paytm means Pay to Modi, says Rahul Gandhi

Calls demonetisation a disaster, accuses PM of having a good laugh while the poor suffer

Tearing into the Modi government's decision to demonetise old currency notes of Rs 500 and Rs 1,000, Indian National Congress Vice-President Rahul Gandhi on Thursday termed the move a disaster.

"A month ago, the PM made a financial experiment without consulting any expert. That has jeopardized the life of people of India. It has devastated poor people, farmers, fishermen, daily wage earners. He is laughing, having a nice time, while the people of the country are suffering." said the Congress vice-president.

"Demonetisation is a disaster. Pretty much every expert who had an opinion about it was pushed aside. We were told it's a bold decision. But a bold decision can also be a foolish decision", he said.

Accusing the prime minister of shifting goalposts, Rahul Gandhi said: "PM's narrative has changed. He said this was to curb black money. Now, RBI says Rs 11.5 lakh crore has come in and it is expecting all the money will be back. Then PM talked about terrorism. The intensity of attacks have increased and a terrorist killed had new notes. Then PM talked about counterfeit currency. We asked them how much counterfeit currency was in circulation and they said only Rs 400 crore."

"Now, he has moved to cashless. They are talking about the concept of Paytm," Gandhi said, adding: "Paytm is Pay To Modi. PM is running away. We will not let him run inside the house. We will catch him."

"Who stands to benefit from a cashless economy? Just 4 or 5 companies. The companies are going to charge on every transaction and thus it is for their benefit.", he asked.