Note ban move was 'extraordinarily foolish', took economy down: Chidambaram

He adds what the Opposition had been saying all along had turned out to be true

The Congress slammed Prime Minister Narendra Modi’s controversial demonetisation move, saying it was an “extraordinarily foolish” measure that had set the economy further back.

Reacting to the Central Statistics Office (CSO) data which showed gross domestic product (GDP) declined by 1.3 per cent from 7.9 per cent in 2015-16 to 6.6 per cent in 2016-17, former finance minister P Chidambaram said what the Congress and the other Opposition parties had been saying all along had turned out to be true.

Noting he had predicted a decline in GDP by one to 1.5 per cent after demonetisation on November 8, 2016,