Mr. Surjewala therefore urged
The opposition, Indian National Congress Castigated Union Government of India on the issue of Demonetization after RBI’s recent report.T he opposition alleged that Indian Economy had to pay a ‘huge price’ for the unprecedented act of Demonetization of Bulk of Currency Notes in the Midnight of 8th November by the Prime Minister of India which is, in fact, the work of Governor of Reserve Bank of India.
99.3 percent of the 500 and 1,000 rupees notes closed after the ban was imposed in 2016, has returned to the banks. This information has been given in the annual report of Reserve Bank of India 2017-18.
This means that only a small portion of the closed notes do not come back into the system. While announcing the ban on November 8, 2016, the government had said that the main motive behind this is to curb black money and corruption.
The Reserve Bank has taken considerable time to count restricted notes. After the announcement of the ban on the government, the government had provided a limited period of 50 days to deposit old notes.
After the new recent report of RBI, Congress party openly asks the PM to apologize to the common men of Indian Democracy. In this said report RBI has unveiled a thrilling suspense that after Demonetization, where the old currency Notes have gone? RBI unveiled that at least 99.3% of junked RS500 and RS1000 notes have been returned back to Indian Banking system after Demonetization.
In the aim of pressurizing the union government more, former Finance Minister also has urged that more than 100 lives were lost and lakhs of the job were vanished due to unwanted Demonetization. Due to this undesired Demonetization, economically it is believed that Indian Economy has lost at least 1.8 percent of GDP which is accounted up to the monetary loss of 2.2lakh crore per year from the year of Demonetization.
Reactivating the Independence speech of Prime Minister of India in the year 2017, Congress Spokes Person Surjewala alleged that honorable Prime Minister had lied of his own claim that 3 lakh crore of unaccounted Money will come back to the Banking System.
Mr. Surjewala, therefore, urged "Modiji, will you apologize for that lie now?"
After a long period of counting the returned Notes, Reserve Bank of India claimed in the recent report that as much as 99.3 percent of the junked notes has returned to the banking system.
In a tweet, Mr. Chidambaram said, "Remember who had said that Rs. 3 lakh crore will not come back and that will be a gain for the government?"
Former Finance Minister, P.Chidambaram alleging the Process of Demonetization urged via a Tweet told"So, government and RBI actually demonetized only Rs. 13,000 crore and the country paid a huge price. Over 100 lives were lost. 15 crore daily wage earners lost their livelihood for several weeks. Thousands of SME units were shut down. Lakhs of jobs were destroyed. Indian economy lost 1.5 percent of GDP in terms of growth. That alone was a loss of Rs. 2.25 lakh crore a year,"