Let it be a reminder of the monumental disaster: Congress on withdrawal of Rs 2,000 banknotes
New Delhi, Oct 07 : As the deadline to exchange the Rs 2,000 denomination banknotes ended on Saturday, the Congress criticised the government saying it is a reminder of the monumental disaster of November 8, 2016 (demonetisation) and after blowing thousands of crores of taxpayers’ money in a futile exercise, the Modi government will move onto managing the next headline.
In a post on X, Congress General Secretary Jairam Ramesh said, “As the nation marks the obituary of the 2,000 rupee note, let it be a reminder of the monumental disaster that was the Tughlakian decision of November 8, 2016.”
He said, “Those who questioned the logic back then, including Rahul Gandhi, were mocked by the drum-beaters of the self-appointed ‘Vishwaguru’. Some even claimed microchip-enabled notes to help track black money!”
“Now, after blowing thousands of crores of taxpayers’ money in a futile exercise and destroying lakhs of micro and small businesses across the country, the Modi government will move onto managing the next headline,” Ramesh, who is also a Rajya Sabha MP said.
In his post on X, he also attached a photograph of two Rs 2,000 denomination banknotes with a garland of flowers around the frame, signifying their death.
Ramesh also quoted a tweet by Rahul Gandhi on November 9, 2016. The former Congress president had questioned the Modi government’s decision at that time and said, “One Q (question) for the PM (Prime Minister): How is replacing 1,000 rupees notes with 2,000 rupees notes going to make black money hoarding a lot harder? Modi logic.”
The remarks from the Congress General Secretary, who is also the communications incharge of the Congress, came as Saturday was the last day for the public to exchange or deposit Rs 2,000 banknotes.
About Rs 12,000 crore (or 3.37 per cent) of the currency notes remain in circulation, the Reserve Bank of India Governor Shaktikanta Das said during the monetary policy review meeting on Friday.
On May 19, the RBI decided to withdraw the Rs 2,000 denomination banknotes from circulation but said they would continue to remain as legal tender.
Initially, the RBI fixed September 30 as the deadline to complete the exchange and deposit exercise. However, based on an assessment, the RBI decided on September 30 to extend the arrangement until October 7.
The Rs 2,000 denomination banknote was introduced in November 2016, primarily to meet the currency requirement of the economy in an expeditious manner after the withdrawal of the legal tender status of all Rs 500 and Rs 1000 banknotes in circulation at that time.
