The Supreme Court examined the legal aspects of demonetisation, but the fact remains that the Union government’s exercise adversely impacted the Indian economy, Finance Minister K.N. Balagopal said on Monday.
Responding to the Supreme Court ruling on demonetisation, Mr. Balagopal said no solutions had been found for the problems spawned by demonetisation in the country’s financial, industrial, agricultural and service sectors.
Commenting on the dissent by Justice B.V. Nagarathna, Mr. Balagopal said it indicates that senior judges of the Supreme Court differed on the procedures followed by the government in implementing demonetisation.
The Centre had failed in achieving the declared aims of the demonetisation exercise. Many decisions of the Centre, taken without careful thought, continue to negatively impact the States and the lives of the people, he said.
Mr. Balagopal expressed the hope that the Union government would not repeat such measures.
