President has shown truth to PM Modi: Congress

The Congress Party on Thursday said President Pranab Mukherjee's remarks on demonetisation have shown the truth to Prime Minister Narendra Modi over his decision.

"President of India has now spoken, will Modi ji listen and will Modi ji leave his arrogance of power and recoup the losses?," Congress spokesperson Randeep Singh Surjewala told ANI.

"Head of the family gives lessons to truant child, that is the kind of lesson President of India has given," he added.

President Pranab Mukherjee earlier in the day said that demonetization move, while immobilizing black money and fighting corruption, may lead to temporary slowdown of the economy.

The President was delivering the New Year message to the Governors and Lt. Governors of states and Union Territories through video conferencing from the Rashtrapati Bhavan.

President Mukherjee said the government has to be extra careful to alleviate the suffering of the poor which might become unavoidable for the expected progress in the long term.

"While I appreciate the thrust on transition from entitlement approach to an entrepreneurial one for poverty alleviation, I am not too sure that the poor can wait that long," he said.

He said the poor needs help, so that they can also participate actively in the national march towards a future devoid of hunger, unemployment and exploitation.

He added that the recent package announced by the Prime Minister will also provide some relief.