Demonetisation Anniversary: The notes ban yanked nearly 86 per cent of the currency in circulation
As the government today celebrates one year of demonetisation as 'Anti-black money day', the opposition is leaving no stone unturned to keep the pressure on the government and the ruling coalition on the issue. Opposition parties including Congress are calling the demonetisation anniversary 'Black Day'. The notes ban, which yanked nearly 86 per cent of the currency in circulation at the time, has been acknowledged by experts as one of the main reasons for the economic lull, which saw growth plunge to a three-year low of 5.7 per cent in the last quarter.
Here are the highlights on demonetisation anniversary:
The Congress in Arunachal Pradesh today organised a candle light procession to remember the people who, the party claimed, died because of the demonetisation.
Hundreds of Congress workers today formed a human chain in New Delhi as part of their party's observance of November 8 as 'black day' on the first anniversary of the demonetisation of high value currency notes.
The Congress workers carried placards reading "Notebandi ne kiya prahar, thapp ho gaya karobar
" (demonetisation hit hard forcing businesses to collapse), "Notebandi ne kiya vivash, 8 November kala diwas
" (Demonetisation forced us to observe November 8 as Black day).
"Demonetisation was an effective action against black
money. Attack has now begun on benami properties.
Congratulations to the Centre," Bihar Chief Minister Nitish Kumar said.
Mocking the demonetisation move of the Narendra Modi government, BJP's bickering ally, the Shiv Sena, today performed a 'shradh' ceremony (post-death rites) of the Centre's note ban policy on its first anniversary.
MK Stalin led a well-attended 'Karuppu Dinam' (Black Day) protest in Madurai, dressed in black. He raised slogans against the Narendra Modi government for note ban.
A Congress party worker with body painted in black, participates in a Black Day protest against demonetisation on the first anniversary of its announcement, in Bhopal on Wednesday.
Rahul Gandhi visits a diamond polishing unit in Surat's Varachha.
Union minister Babul Supriyo shown black flags by Congress at Asansol in West Bengal.
"Can any one deny lives were lost, small businesses closed and jobs were lost?," senior Congress leader P Chidambaram said in a series of tweets.
Rahul Gandhi, in an opinion piece in a newspaper, alleged that the livelihood of millions of honest Indians were destroyed due to this "thoughtless act" of the prime minister.
Congress leader Ahmed Patel tweets, "We remember demonetisation as it reflects the govt's brutal dishonesty,intellectual bankruptcy & making of an unwarranted economic tragedy."
Defence Minister Nirmala Sitharaman said that the biggest achievement is that terrorism has been badly hit and the stone throwers "who were in thousands have reduced because their cash flow has been cut".
Defence Minister Nirmala Sitharaman attends at a signature campaign in Chennai, organised by Tamil Nadu BJP Youth Wing, reports news agency ANI.
BJP leaders, including many union ministers, will fan out across the country to highlight the "benefits" of demonetisation.
This evening, Rahul Gandhi will participate in a candle-light vigil in Gujarat's Surat as part of the Opposition parties' "Black Day" protest.
On Notes Ban Day, PM Narendra Modi Tweets 'Battle Won', Opposition Protests: 10 Points
As Prime Minister Narendra Modi's government today celebrates one year of demonetisation, the move that yanked 86 per cent of the currency in circulation at the time as "Anti-black money day", the opposition plans united protest against the notes ban, which according to them was a "reckless" and "thoughtless" act by the central government. PM Modi, however, called the demonetisation a "decisive battle" that "Indians fought and WON".
BJP workers in Varanasi celebrate the first anniversary of demonetisation with party flags, portrait of PM Modi and cake.
Did Demonetisation Increase Tax Base? Not Really
If the government is to be believed, the ban on high-value currency led to a significant surge in India's tax base over the past year. To back this claim, the government has released a deluge of data. Including the claim that that there was a 25 per cent increase in tax returns in the April-August 2017 period, compared to the same period last year. But the surge is not unusual given what demonetisation was meant to achieve.
Congress vice president Rahul Gandhi called demonetisation a tragedy. He tweeted, "Demonetisation is a tragedy. We stand with millions of honest Indians, whose lives & livelihoods were destroyed by PM's thoughtless act."
"125 crore Indians fought a decisive battle and won," said PM Narendra Modi.
I bow to the people of India for supporting government to eradicating corruption: Prime Minister
"I bow to the people of India for steadfastly supporting the several measures taken by the government to eradicate corruption and black money," said PM Narendra Modi on the first anniversary of demonetisation.