Speaking on the second anniversary of demonetization, senior Congress leader Ashok Chavan today described it as the "biggest mistake of Modi government" and claimed that it resulted in the slowdown of the economy.
None of the objectives of demonetization, like eradication of black money, removal of fake notes in circulation and breaking the back of Naxal and terror activities, have been achieved, he said.
'It'd be foolish to think auto-rickshaw drivers deal in black-money'
"Not all cash is black and not all black (money) is cash. Ours is a cash economy and receipts are not available for all transactions. It would be foolish to think that auto-rickshaw drivers, vegetable vendors, small shopkeepers deal in black money," he said.
Was there any meeting to discuss demonetization, asks Chavan
Stressing the need for an analysis of demonetization (a 2016 ban on the in-use Rs. 1,000 and 500 denomination notes with immediate effect), Chavan, ex-Maharashtra CM, sought to know if the Union Cabinet, the chief economic adviser, and the cabinet sub-committee were even aware of the decision.
"Was there any meeting to discuss this? Are there any minutes of such a meeting," he asked.
At government-level, many stakeholders take an important decision: Chavan
Chavan also said that at the government level, there are many stakeholders while taking an important decision- a preliminary-study is conducted, report is prepared, there's a discussion and changes, if necessary, are made. The Opposition parties are also on board and a protocol is followed.
Quitting of economic giants during Modi's regime also worrisome: Chavan
The Maharashtra Pradesh Congress Committee (MPCC) chief also noted that in the last two years, the chief economic adviser and the Niti Aayog vice chairman, who were appointed by the government, have quit.
The current developments pertaining to the Reserve Bank of India (RBI) are also a cause of concern, said Chavan, who is the Lok Sabha member from Nanded in Maharashtra.