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Reason behind demonetisation still a mystery:Kejriwal

Press Trust of India  |  New Delhi 

On the second anniversary of demonetisation, (AAP) convener and Thursday questioned the rationale behind the Modi government's note ban move and termed it as "a self inflicted deep wound" on the Indian economy.

on November 8, 2016, announced a ban on then in use Rs 1000 and Rs 500 notes with immediate effect.

"Though the list of financial scams of Modi govt is endless, demonetisation was a self inflicted deep wound on Indian economy which even two years later remains a mystery why the country was pushed into such a disaster ?"

The sudden withdrawal of notes led to a liquidity crunch with serpentine queues seen outside banks and ATMs to exchange old notes.

The effects of demonetisation including its role in culling black money and stemming terrorism and Naxalism as well as its impact on the economy are still being discussed with the opposition slamming the Modi government, terming its decision as "ill-advised" and "disastrous" for the country.

The BJP-led government had defended the move, saying it was necessary to wipe out illegal money stashes.

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

First Published: Thu, November 08 2018. 11:50 IST
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