Demonetisation a ‘foolish’ move, says CM

Protests and celebrations mark the first anniversary of the note ban

Voicing unhappiness: Cadre belonging to the Congress and its alliance partners staging a protest against demonetisation, in Puducherry on Wednesday.

Wednesday marked one year of the demonetisation drive and Puducherry witnessed both anti and pro-demonetisation demonstrations.

While the Congress and its alliance partners observed the day as ‘Black Day’ by staging a demonstration near the Head Post Office, the Bharatiya Janata Party held a march as part of its nationwide celebrations to mark the ban on high value currency notes as ‘anti-black money’ day.

The Congress agitation was led by Chief Minister V. Narayanasamy and Minister for Public Affairs A. Namassivayam, who is also the chief of Pradesh Congress Committee. Addressing the gathering, Mr. Narayanasamy said the demonetisation was a “foolish” move that had destroyed the economy and rendered many jobless. None of the objectives, including curb on black money, was achieved because of the move, he said.

Mr. Namassivayam said the BJP government had destroyed the economy by banning high denomination notes.

Ministers, Congress legislators, functionaries, DMK and VCK leaders attended the protest.

The Left parties on Wednesday staged a demonstration in front of the State Bank of India branch on Kamaraj Salai here to register their protest on the first anniversary of the demonetisation exercise by the Centre.

‘Failed effort’

Leading the demonstration, R. Viswanathan, secretary of the CPI and R. Rajangam of the CPI (M) said that demonetisation had crippled the economy. The Centre’s move has failed although there were claims that black money would be unearthed. Meanwhile, the BJP-led National Democratic Alliance (NDA) had used it to convert black money and counterfeit currency into white money. The BJP had also failed to fulfil the promises it had extended to the people after it came to power in 2014.

The BJP workers, led by its local unit president and nominated MLA V. Saminathan, took out a victory march from its new office near Indira Gandhi square to the Commercial Taxes Department.

Mr. Saminathan said demonetisation was one of the boldest steps ever taken by any government. He criticised the Congress party for its stand on demonetisation.