A file photo of a person holding ₹2000 rupee banknotes. Opposition leaders from across the political spectrum have argued that the Reserve Bank of India’s (RBI) decision to withdraw the ₹2,000 notes from circulation proves their argument that the November 2016 demonetization was a ” failed exercise. | Photo credit: AP
Opposition leaders from across the political spectrum have argued that the Reserve Bank of India’s (RBI) decision to withdraw the ₹2,000 notes from circulation proves their argument that the November 2016 demonetization was a ” failed exercise.
Former Finance Minister P. Chidambaram took to Twitter to say that demonetization has come full circle.
“A few weeks after the demonetization, the government/RBI were forced to reintroduce the ₹500 note. I wouldn’t be surprised if the government/RBI also reintroduced the ₹1,000 note, Mr. Chidamabaram said on Twitter.
The official handle of All India Trinamool Congress (AITC) tweeted: “@BJP4India demonetized ₹500 and ₹1000 notes in 2016 disrupting the lives of Indians across the globe! They claimed that the introduction of the ₹2,000 note would curb the flow of black money”.
“7 years later, they take it out of circulation. Yet another MODINOMIC masterstroke? asked TIAC.
Marking his 2016 Rajya Sabha speech in which he strongly opposed the ticket ban, CPI(M) General Secretary Sitaram Yechury tweeted: “RBI’s reversal of Modi’s demonetization is vindication what we said in 2016”.
The Aam Aadmi Party (AAP) and Delhi government minister Saurabh Bharadwaj said he hoped the final decision would be made by experts.
“This whole concept of starting circulation, stopping circulation of banknotes or issuing new banknotes was started by the work of Prime Minister Narendra Modi and the economy suffered. It has neither helped to curb black money nor to end terrorism,” Mr Bharadwaj said.
Congress Spokesperson Pawan Khera said, “The ghost of November 8, 2016 has returned to haunt the nation once again.”
“The widely propagated demonetization movement continues to be a monumental disaster for this nation. The Prime Minister lectured the nation on the benefits of the new 2000 banknotes, today when printing stopped, what happened to all those promises? The government must explain its motive for such a measure. The government is continuing its anti-people and anti-poor agenda,” Khera tweeted.
Taking a dig into a section of the media which had falsely claimed that the ₹2,000 notes had embedded chips which would help the authorities track illegal hoarding, Mr Khera added: “I hope the media questions the government. to such a drastic extent and not attribute it to the ‘flea shortage’ in the world”.
