'India's eco condition turned from bad to worse in 6 years'

MP 9 Nov 2022 | KOLKATA: On the sixth anniversary of demonetisation of all bank notes of Rs 500 and Rs 1,000 denominations, state Industry minister Shashi Panja on Tuesday said the move was the biggest 'gimmick' of the Narendra Modi-led government, leading to the fall of economy. 

In his televised address to the nation, Prime Minister Narendra Modi had announced demonetization of such notes on November 8, 2016. 

"The demonetisation announced by the Prime Minister on November 8, 2016 is the biggest gimmick. In the past six years, the economic condition of India has turned from bad to worse. Every sector is badly hit. 

Unemployment has reached all time high. No step has been taken to stop this economic anarchy," she said adding "fake notes worth Rs 500 and Rs 2000 have been seized in great numbers." 

Modi had said that demonetisation would put an end to the circulation of counterfeit notes. Panja said no step had been taken to unearth black money. 

'People are still handling huge cash. Modi had said demonetization will eradicate circulation of black money," she said adding, "demonetisation is the biggest hoax and lie. It is the biggest gimmick." 

Within half an hour after his Modi's announcement six years back, Chief Minister Mamata Banerjee had said it would bring economic disaster to the country. More than 300 people across the country died while standing in the long queues in front of nationalised banks to change old notes. Later, economists across the globe had said it would not bring any good to India and economically the country would be on the reverse gear. http://www.millenniumpost.in/kolkata/indias-eco-condition-turned-from-bad-to-worse-in-6-years-498518