Party says Modi lied about benefits of demonetisation

Terming demonetisation as a disaster, the Congress on Thursday demanded the resignation of Prime Minister Narendra Modi for wrecking the economy and lying to the nation about the benefits of note ban.

Linking the slower economic growth to demonetisation, the Congress said former prime minister Manmohan Singh’s prediction that the note ban would shave off 2% from the GDP, too, has come true.

"In the last six quarters, economy under Modiji sank from 9.2% to 5.7%. This is by the new method of calculation! Is this demonetisation success formula," asked Randeep Singh Surjewala, in-charge of the AICC communication department.

Accusing the prime minister of lying to the nation about the achievements of the demonetisation exercise, Surjewala said "if morality has some place, will he now care to step aside? He should consider to quit".

The Congress tore into the Modi government after the RBI data released on Wednesday evening revealed that almost all the scrapped currency notes had returned to the banking system.

"Demonetisation is the biggest scam, as the government has helped the wrong people legitimise their illegitimate money through it and has betrayed the poor people of the country with false promises," senior Congress spokesperson Anand Sharma told reporters here.

Sharma accused the prime minister of defaming his own country before the world by declaring that 77% of the cash in circulation was black money.

"In any other country, the prime minister would not have remained in office after this, but here, Prime Minister Narendra Modi thinks that he is not accountable to anyone, he will do what he wants. We are only advising him to reflect," the Congress leader said.

Sharma said Modi had promised to unearth black money and end corruption, terror funding and counterfeit currency.

None of the promises made by him while announcing the decision had come true, he said.

"Once the honour of the prime minister’s word is gone and the trust of the people destroyed, then where is his credibility and where does he stand," Sharma said.