On the 2nd anniversary of demonetization, AAP (Aam Aadmi Party) Chief and Delhi Chief Minister Arvind Kejriwal today questioned the justification behind the Modi-led BJP government’s note ban move and acknowledged it as “a self-inflicted deep wound” on country’s economy.
On November 8, 2016, Prime Minister Narendra Modi has announced that a ban on then use Rs. 500 and Rs. 1000 denomination bank notes with immediate effect.
He further asked, “Though the list of financial scams of Modi govt is endless, demonetization 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?”
The sudden note elimination leads to a liquidity of crunches with bending queues seen outside ATMs and banks to exchange old notes. The effects of demonetization including its significant in selecting black money and stemming terrorism and Naxalism as its impact on the economy are still be talked with the oppositions slamming the BJP government, termed its decision as “disastrous” and “ill-advised” for India. BJP government had further defended the move and claims it as necessary to wipe out illegal money stashes.