"On the day of announcement of demonetisation, Modi was saying with great confidence and telling people to see what happens on December 30, but nothing has happened," he told reporters here.
The MNS chief also criticised the decision announced by Modi of giving Rs 6,000 to pregnant women.
Thackeray was in the city to inaugurate party's new office for coming civic elections.
Referring to Supreme Court's ruling against seeking votes on the grounds of "religion, race, caste and community or language", he said India is a huge country and ground reality should be checked before passing such a judgement.
"They came to power using Ram Mandir issue, now they have changed the stand and when they have power, why can't they build Ram Mandir and instead named a railway station as Ram Mandir," he said.
"Instead of erecting the memorial, if the same funds could be utilised to conserve the existing forts in the state, the next generations will get to learn who was Shivaji Maharaj and his valiant tenure," he said on the memorial for the 17th century Maratha warrior king to be built, off Mumbai coast.
"Though they are claiming big victory in these elections, however, the reality is that it is victory of Congress and NCP as most of the BJP's candidates were brought from these parties," he alleged.
Thackeray also said in the upcoming elections, MNS will fight the polls with complete strength.
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