On fifth anniversary of demonetisation, Priyanka Gandhi calls 'notebandi' a 'disaster', slams Centre

New Delhi: On the fifth anniversary of demonetisation, Congress leader Priyanka Gandhi Vadra on Monday termed it a "disaster" and asked if the step has been successful, why hasn't corruption ended and black money returned to the country.

On November 8, 2016, Prime Minister Narendra Modi announced on national television his government's decision to ban all currency notes of higher denomination of Rs 500 and Rs 1,000 from midnight on the same day.

"If 'notebandi (demonetisation) was successful, why hasn't corruption ended? Why hasn't black money come back? Why hasn't the economy gone cashless? Why hasn't terrorism been hit? Why hasn't price rise been reined in?" Gandhi said in a tweet in Hindi, using the hashtag 'DemonetisationDisaster'.

अगर नोटबंदी सफल थी तो

भ्रष्टाचार खत्म क्यों नहीं हुआ?
कालाधन वापस क्यों नहीं आया?
अर्थव्यवस्था कैशलेस क्यों नहीं हुई?
आतंकवाद पर चोट क्यों नहीं हुई?
महंगाई पर अंकुश क्यों नहीं लगा?#DemonetisationDisaster

— Priyanka Gandhi Vadra (@priyankagandhi) November 8, 2021

Congress has been alleging that demonetisation was not in the interest of people and had adverse effects on the economy, a charge the Narendra Modi government has dismissed repeatedly.

Meanwhile, the Left parties also hit out at the government over the state of the economy and blamed the Centre's demonetisation policy for it. Questioning the move, CPI(M) general secretary Sitaram Yechury alleged that it "decimated the informal sector".

"Economy into a tailspin, the poorest hurt. Informal sector decimated. No black money recovered, but rich got richer. Cash in the economy is the highest ever now! This govt must bear responsibility for pushing India downhill, just for one man's whim," he said in a tweet.

CPI MP Binoy Viswam too criticised the government over demonetisation.

"Currency in circulation: 2016 Nov. 17.97 lakh cr. 20 21 Oct. 28.30 lakh cr. 57% increase in 5 years! Black money in the country:300 lakh cr. Demonetisation was a total disaster. PM Modi should tender appologies to the nation. Modinomics was 'much ado about nothing'!", he said in a tweet.

Yechury also demanded the withdrawal of excise duties on petroleum products.