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DMK slams Centre over note ban on second anniversary

Press Trust of India  |  Chennai 

DMK Thursday hit out at Prime Minister on the second anniversary of demonetisation alleging it was a "one-man made disaster" for the country with the economy getting hit irreversibly.

Ruling AIADMK, however, appeared to be guarded in its reaction, saying the people's verdict on demonetisation would be known only after the next year Lok Sabha elections.

With ally alleging note ban as a biggest scam, DMK M K in a tweet said: "People were brought on streets with their money declared illegal.

"Indians stood in endless lines & many died outside banks, millions of jobs were lost, small industries shut & the economy hit irreversibly. #DestructionByDemonetisation is a one man made disaster for India," Stalin, who is the of Opposition in the assembly, tweeted.

Senior AIADMK and Fisheries Minister D Jayakumar, said whether the people have accepted demonetisation or not will be known only after the Lok Sabha election is held next year.

"Be it demonetisation or any other reform, whether such initiatives can be accepted or not lies with the people and only they decide," he told reporters here when asked for his views on demonetisation.

Kazhagam TTV Dhinakaran claimed that it was "getting proven everyday" that the demonetisation drive was not poised for growth and it affected both the haves and have-nots.

Dubbing the note-ban as a failure, he alleged "it was like another atom bomb that pushed the economy to the abyss."

of chapter of Bank Employees Federation of C P Krishnan alleged that the note ban was a failure and asked the government to "openly accept" it.

He demanded the government compensate families for "loss of lives," due to the note-ban.

As opposition parties targeted it on the second anniversary of the exercise, the central government has strongly defended its action.

said demonetisation resulted in formalisation of economy and increased tax base, prompting the government to earmark more resources for the poor and infrastructure development.

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

First Published: Thu, November 08 2018. 18:15 IST