On the first anniversary of demonetisation, the ruling Bharatiya Janata Party (BJP) and the opposition led by the Congress are having showdown, arguing their respective cases on the note ban. While opposition parties have decided to observe Wednesday as a “black day”, the BJP has dubbed it “anti-black money day”.
Former prime minister Manmohan Singh argued the opposition’s case, claiming that not only was demonetisation a flawed decision that had caused a needless disruption to the Indian economy, but it also risked unleashing harassment by tax sleuths probing illegal deposits.
The Congress, which described the note ban decision as the “biggest scam” and “the largest government-abetted money laundering scheme”, has asked all its state units to organise protests, processions and marches to mark the day.
Whereas Nandan Nilekani, a high-profile member of the opposition Indian National Congress party have once again came out in support of demonetisation. Nilekani is known for India’s biometrics-based unique identity program.
On one year anniversary of Demontisation whole Congress is protesting against the step and Nilekani tweeted this on Tuesday which may irk the top Congress leadership.
How demonetisation turbocharged digital finance! https://t.co/bhSEe5oP4W
— Nandan Nilekani (@NandanNilekani) November 7, 2017
Demonetisation and less cash economy: a text book case of a 'policy window'! https://t.co/muZfKA274u
— Nandan Nilekani (@NandanNilekani) November 8, 2017
During the time of demonetisation Nilekani supported PM Modi’s decision and said that there will definitely be some amount of short term pain in the coming weeks. But you will see this acceleration is going to benefit everybody.