Here are your top 10 points on second anniversary of demonitization
Finance minister Arun Jaitley said demonetisation “targeted the black money outside India...details of all accounts and assets abroad, which have reached the Government, resulted in action against the violators”.
"An ill-informed criticism of the demonitisation is that almost the entire cash money got deposited in the banks. Confiscation of currency was not an objective of demonetisation. Getting it into the formal economy and making the holders pay tax was the broader objective," said Mr Jaitley.
Former Prime Minister Dr Manmohan Singh in a statement said, "It is often said that time is a great healer. But unfortunately, in the case of demonetisation, the scars and wounds are only getting more visible with time."
The Congress party has called for a nationwide protest on Friday to mark two years of demonetisation. Congress leaders across the country will take to the streets to protest what they call the Prime Minister's "Tughlaqi farmaan".
Congress spokesperson Manish Tewari on Wednesday said his party demanded an apology from the Prime Minister for "ruining and wrecking the Indian economy".
Congress said none of the three objectives - curb black money, weed out fake notes and check terror funds - given by the Prime Minister have been achieved. Note ban only helped "few crony capitalist friends of PM Modi. Demonetisation was a black day for our democracy and our economy," the Congress said on Twitter.
Aam Aadmi Party chief Arvind Kejriwal said, "Though the list of financial scams of Modi government is endless, demonetisation was a self inflicted deep wound on the Indian economy, which even two years later remains a mystery why the country was pushed into such a disaster?"
The Trinamool Congress Party, which has always been one of the strongest critics of demonitisation, said it will observe 'Black Day' to mark the second anniversary of note ban. "Today is the second anniversary of demonetisation disaster. From the moment it was announced I said so. Renowned economists, common people and all experts now agree," tweeted party chief Mamata Banerjee. Calling demonetisation a scam, she said, "The government cheated our nation...People will punish those who did this."
CPM general secretary Sitaram Yechury said, "Mr Modi and his minions claimed demonetization will end black money, finish corruption, terminate terrorism, and bring only digital transactions. Two years later, Mr Modi is silent. The truth is that he singlehandedly destroyed the economy, lives and livelihoods."
On November 8, 2016, Prime Minister Narendra Modi announced the scrapping of 500 and 1,000-rupee notes in circulation.