Last Update: January 02, 2023, 18:11 IST
Maharashtra Congress spokesperson Sachin Sawant said some of the questions raised in the Supreme Court judgment were broad. (Representational photo: Reuters)
Both the parties said that the Bharatiya Janata Party government at the Center cannot escape blaming itself for the hardships caused to the people of the country due to the decision to demonetise the high denomination notes.
Nationalist Congress Party and Congress criticized it on Monday Narendra Modi government for demonetisation, his statements come on a day the Supreme Court upheld the 2016 move saying the decision did not suffer from any legal or constitutional flaw.
Both the parties said that the Bharatiya Janata Party government at the Center cannot escape blaming itself for the hardships caused to the people of the country due to the decision to demonetise the high denomination notes.
NCP national spokesperson Clyde Crasto said, “Despite the (SC) verdict, the BJP government must be held accountable for the collapse of the economy due to demonetisation and the loss of many lives due to the disastrous, ill-planned process.”
He said the move failed to unearth blast money as 99 per cent of the old notes returned to the banks.
Where has the black money disappeared? Today more currency is in circulation in the market than before. So what happened to digital payments if the idea was to reduce cash transactions,” Cresto questioned.
He said the move was “bad and hasty” and had “broken the backbone of the economy, causing loss of human lives and hurting citizens in many ways”.
Maharashtra Congress spokesperson Sachin Sawant said some of the questions raised in the Supreme Court judgment were “broad”.
“Now it is irrelevant to see whether the demonetisation was legal or not. The decision was inhuman, haphazard, arbitrary and far from meeting the objectives.”
Sawant called demonetisation a “man-made disaster” and claimed that 98 per cent of the currency was withdrawn, over 100 people died and economic growth fell from 8.1 per cent to 3.7 per cent for eight consecutive quarters, putting lives at risk. Indicates a deep wound. ,
Justice BV Nagaratna disagreed with the majority judgment on the point of Centre’s powers under Section 26(2) of the RBI Act and said that the cancellation of Rs 500 and Rs 1,000 series notes has to be done through a law and not through a notification. ,
The bench, also comprising Justices BR Gavai, AS Bopanna and V Ramasubramanian, said that the November 8, 2016 notification, which announced the decision to demonetise high denomination currency notes, cannot be said to be unreasonable and that It has been canceled on that basis. the decision making process.
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(This story has not been edited by News18 staff and is published from a syndicated news agency feed)