Senior Congress leader Rahul Gandhi on Thursday released a new video where he criticised the Narendra Modi government’s demonetisation move and added that it was an attack on the country’s poor population and unorganised sector.
In the video, Gandhi explained how the move to ban high-value currency notes of Rs 500 and Rs 1,000 in 2016 led to severe disruptions for small business owners, farmers and the country’s unorganised sector.
“Modi’s ‘cash-free’ India is actually a ‘worker-farmer-small businessman’ free India,” Rahul Gandhi said.
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8 2016 , 31 2020
— Rahul Gandhi (@RahulGandhi) September 3, 2020
“The dice that was thrown on 8 November 2016 had a terrible result on 31 August 2020,” he said.
In the video, Gandhi said demonetisation failed to serve its purpose as it did not result in elimination of black money. He also added that it did not help the country’s poor population in any way.
He went on to say that the move only benefitted the richest billionaires in the country and that the money that was deposited by the public was used to waive off their debts.
“Money from common man’s pocket was used to pay for the debts of the rich, this was the only objective of demonetisation,” Gandhi said.
Gandhi went on to explain how the unorganised sector was deeply hurt by the move as it was totally dependent on cash when demonetisation was announced.
He said the only people that were affected severely by ‘notebandi’ were small and medium-sized business, farmers and all those working in India’s vast unorganised sector.
“Demonetisation was an attack on the country’s poor population including farmer, labourers. It was an attack on the country’s unorganised sector,” Gandhi added.
On November 8, 2016, Prime Minister Narendra Modi announced the government’s move to demonetise high-value currency notes of Rs 500 and Rs 1,000 in a bid to make the economy more transparent. The move was also aimed at eliminating black money and promoting a cashless India.
However, many reports that have been published since demonetisation indicated that the move failed to achieve its goals besides triggering an economic slowdown.