The city witnessed a series of protests on Wednesday on the first anniversary of Union government’s decision to ban ₹1,000 and ₹500 notes.
Activists of Shivamogga District Congress Committee (SDCC) observed the first anniversary of the note ban as a Black Day. They staged a protest at the Deputy Commissioner’s office, wearing black ribbons around their shoulders.
Addressing the meet, K.B. Prasanna Kumar, MLA, Shivamogga, said that the demonetisation decision by the Narendra Modi-led National Democratic Alliance at the Centre had left the economy in disarray. It had resulted in a slump in prices of agriculture produce and loss of jobs in the industrial sector, he claimed. Disruptions in payments and cash shortage caused by demonetisation had also slowed down economic activities resulting in a corresponding decline in GDP growth figures, he said.
Mr. Kumar said the ban was flawed and had caused common people to suffer. The eradication of black money that was cited as the objective of demonetisation was also not achieved, he said.
Activists of National Students’ Union of India and Social Democratic Party of India also staged protests to register their ire over the problems owing to the note ban.
