Demonetisation ‘destroyed’ economic system, helped few crony capitalists, alleges Rahul

Congress chief Rahul Gandhi on Sunday slammed the federal government over demonetisation, alleging that Prime Minister Narendra Modi’s transfer 4 years in the past was geared toward serving to a few of his “crony capitalist friends” and had “destroyed” the Indian economic system.

Mr. Gandhi and the Congress have been alleging that the 2016 demonetisation was not within the curiosity of the individuals and had opposed results on the economic system, a cost the federal government has dismissed repeatedly.

In a video launched as a part of the celebration’s on-line ‘SpeakUpAgainstDeMoDisaster’ marketing campaign, Mr. Gandhi stated the query is how the economic system of Bangladesh “surpassed” the Indian economic system as there was a time when India was once probably the most excessive performing economies of the world.

“The government says that the reason is COVID but if that is the reason, there is COVID in Bangladesh and elsewhere in the world also. The reason is not COVID, the reason is ‘Notebandi’ and GST,” Mr. Gandhi stated in Hindi.

“Four years ago Prime Minister Narendra Modi began an assault on the Indian economy. He hurt farmers, labourers and small shopkeepers. Manmohan Singh ji said the economy will lose two per cent and that is what we saw,” the previous Congress chief stated.

The Prime Minister had said that it’s a combat towards black cash, nevertheless it was not so, Mr. Gandhi stated.

“This was a lie. The attack was on you, Modi wanted to take your money and give it to his 2-3 crony capitalist friends. You stood in lines, not his crony capitalist friends. You put your money in banks and PM Modi gave that money to his friends and gave them a loan waiver of Rs 3,50,000 crore,” Mr. Gandhi alleged.

Then Mr. Modi applied a “faulty GST” and small, middle-sized companies had been destroyed as “he cleared the way for his 3-4 crony capitalist friends”, the Congress chief claimed.

Mr. Gandhi alleged that now farmers had been being focused with the three new agricultural legal guidelines which, he stated, would “finish off” them.

Mr. Modi has “destroyed” the delight of India — its economic system, Mr. Gandhi stated, and added, “We have to jointly rebuild India”.

The Congress is observing the fourth anniversary of demonetisation as “Vikshwasghaat Diwas” (Betrayal Day).

On November 8, 2016, Prime Minister Modi introduced the choice to ban all foreign money notes of upper denomination of ₹500 and ₹1,000 from midnight.