Congress President Rahul Gandhi calls Demonetisation a ‘criminal financial scam’

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Congress President Rahul Gandhi on Thursday attacked Prime Minister Narendra Modi over demonetisation and said, “November 8 will forever go down in the history of India, as a day of infamy. Two years ago, on this day, Prime Minister Modi unleashed the tyranny of demonetisation on the nation.”

“Modi appeared on television in 2016 to deliver a unilateral announcement of demonetisation that took 86% of India’s currency out of circulation, bringing our economy to a grinding halt,” Rahul added. 

Gandhi further said, “demonetisation was a tragedy because it was a self-inflicted, suicidal attack that destroyed millions of lives and ruined thousands of India’s small businesses. The worst hit by demonetisation were the poorest of the poor, forced to queue for days to exchange their meagre savings.”

“Though India has faced many tragedies in its past. However, demonetisation is unique in the history of our tragedies,” he added.

Gandhi said, “economists around the world have analysed the crippling impact of demonetisation since 2016. Demonetisation was an unmitigated disaster that did not meet a single of its stated objectives and the list of these supposed objectives has grown over time.”

The Congress President said that not a single stated objective of the Government’s has been met. Modi’s demonetisation cost India over one and a half million jobs and wiped out at least 1% from our GDP. 

Gandhi said, “on the second anniversary of the Prime Minister’s monumental blunder, the Government’s spin-doctors, including our incompetent Finance Minister, have the unenviable task of defending an indefensible, criminal policy. India will discover, no matter how the government tries to hide it, that demonetisation was not just an ill-conceived and poorly executed economic policy with “innocent intent”, but a carefully planned, criminal financial scam.”