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Demonetisation: People waiting to punish PM Modi, claims Sena

Press Trust of India  |  Mumbai 

The Thursday said people were waiting to punish for announcing demonetisation two years ago.

On November 8, 2016, PM announced a ban on then in use Rs 1,000 and Rs 500 notes with immediate effect.

The Sena, a constituent of the BJP-led governments at the Centre and in Maharashtra, claimed the note ban exercise was a "complete failure" as none of its objectives were achieved.

"While the (Union) says more number of people have been brought under the tax net, he has failed to explain the rationale behind it (demonetisation) as several lakh people lost jobs," Sena said Thursday.

She said elimination of terrorism and curb on fake currency, also touted as reasons for the demonetisation exercise, could not be achieved either.

"The situation after two years has become so bad that people are waiting to punish the PM," she said.

Kayande further claimed the "ongoing feud" between the Union and RBI Governor will only deepen the economic crisis in the country and make foreign investors wary of investing here.

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

First Published: Thu, November 08 2018. 22:55 IST