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Demonetisation a flop: Kejriwal

Delhi Chief Minister Arvind Kejriwal on Monday termed a ‘big flop’ and a ‘failure’ Prime Minister Narendra Modi’s demonetisation of Rs. 500 and Rs. 1,000 currency notes. He claimed that corruption and dealing in black money had gone up by 10 times in November, after Mr. Modi announced demonetisation, as compared to October.

“Gold, property and dollar exchange is being done at much higher prices through wrong channels. Generation of black money in the last 20 days is up by 10 times. Police have caught people with huge amounts in Rs. 2,000 notes. How did they manage to get this money?” Mr. Kejriwal asked.

He said Mr. Modi was ‘torturing’ and causing grave inconvenience to people and now it had become an ego issue for him. Questioning the purpose behind Mr. Modi’s decision, the Chief Minister said it was done in the name of stopping terrorism, corruption and circulation of counterfeit currency. “Rs. 2,000 notes are found at terrorists’ hideout. Corruption is high and I don’t know where the fake currency producing factories are, India or Pakistan. More fake currency notes are minted in those factories than the RBI is releasing authentic notes in banks and markets,” he said.


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Printable version | Sep 19, 2021 7:04:39 PM | https://www.thehindu.com/news/national/Demonetisation-a-flop-Kejriwal/article16717204.ece

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