Demonetisation anniversary: Opposition considers 'dark day' as 'a deep-inflicted wound' on Indian economy

On the second anniversary of demonetisation, the argument regarding the success of it remains a continued controversy between the opposition parties. While the Opposition described it as a "disaster" the BJP said, it was a "stringent action against corruption". The Congress has called for a nationwide protest on Friday and the Trinamool said it will observe a 'Black Day' to mark two years of notes ban. 

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West Bengal Chief Minister Mamata Banerjee Thursday said that she has been describing the day as a ‘dark day’ since demonetisation was announced by PM Narendra Modi in 2016. She took to her Twitter handle to share her views on demonetisation and wrote, “#DarkDay The government cheated our nation with this big #DeMonetisation scam. It ruined the economy and the lives of millions. People will punish those who did this.”

#DarkDay The government cheated our nation with this big #DeMonetisation scam. It ruined the economy and the lives of millions. People will punish those who did this

— Mamata Banerjee (@MamataOfficial) November 8, 2018

Delhi Chief Minister on Thursday questioned the rationale behind the Modi government’s note ban move and also termed it as “a self-inflicted deep wound” on the Indian economy. The Aam Aadmi Party convener tweeted, “Though the list of financial scams of Modi govt is endless, demonetisation was a self-inflicted deep wound on Indian economy which even two years later remains a mystery why the country was pushed into such a disaster ?”

Though the list of financial scams of Modi govt is endless, demonetisation was a self inflicted deep wound on Indian economy which even two years later remains a mystery why the country was pushed into such a disaster ?

— Arvind Kejriwal (@ArvindKejriwal) November 8, 2018

Describing demonetisation as an "ill-fated" and "ill-thought" exercise, former prime minister Manmohan Singh said that the havoc it unleashed on the economy and society is now evident. "Today is a day to remember how economic misadventures can roil the nation for a long time and understand that economic policy making should be handled with thought and care," Singh said in a statement.

Prime Minister Narendra Modi on November 2016, announced a ban on then in use Rs 1000 and Rs 500 denomination bank notes with immediate effect. The effects of demonetisation including its role in culling black money and stemming terrorism and Naxalism as well as its impact on the economy are still being discussed with the opposition slamming the Modi government, terming its decision as "ill-advised" and "disastrous" for the country. The BJP-led government had defended the move, saying it was necessary to wipe out illegal money stashes.