STATE TIMES NEWS
Jammu: JKPCC Working President Raman Bhalla on Wednesday alleged that demonetisation was independent India’s ‘greatest organised loot’ and demanded a white paper from Modi government on the move. Speaking on the occasion of sixth anniversary of demonetisation, Congress leader said Prime Minister Modi had surprised all by scrapping currency notes of Rs 500 and Rs 1,000 on this day in 2016. “The decision triggered ‘panic’, creating unspeakable problems linked to cash and destroying countless small and medium businesses. It has been six years since independent India’s ‘greatest organised loot”, Bhalla said and accused the Government of destroying the economy through demonetization. “One of the stated objectives of demonetisation was to promote digital transactions as the government felt too much cash was in circulation. The jump in cash has clearly exposed the objective Government. Bhalla said that Govt’s demonetization move was aimed at helping a few of his ‘crony capitalist friends’ and had ‘destroyed’ nation’s economy. He said that demonetisation was not in the interest of the people and had adverse effects on the economy. “BJP government’s decision to demonetise high-value currency notes six years ago had adversely affected the lives of poor, farmers, shopkeepers and small traders. It also ruined the economy and created large-scale unemployment in the country,” he added.