Apologise for ‘blunder of demonetisation’: Arvind Kejriwal tells PM Modi

"There's no solution other than rolling back demonetisation," said Arvind Kejriwal .

By: PTI | Amritsar | Published: December 30, 2016 6:40 pm
Arvind Kejriwal, Pm Modi, Modi, Demonetisation, Blunder of Demonetisation, Demoentisation and Arvind Kejriwal, latest news, India news, National news, India news, Latest news, national news Delhi Chief Minister Arvind Kejriwal, (PTI Photo)

Delhi Chief Minister Arvind Kejriwal on Friday asked Prime Minister Narendra Modi to tender an apology to the people during his address to the nation on New Year’s Eve on what he said was a “blunder of demonetisation”. Kejriwal, also the national convener of Aam Aadmi Party (AAP) which governs Delhi, said Modi has committed a blunder by demonetising high-value notes and pushed India into a deep economic crisis.

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“Modi had demanded 50 days to implement the exercise, but there’s no sign of people recovering from its after shocks,” he said and demanded a roll back, suggesting that Modi should make an announcement in this regard in his address tomorrow.

“There’s no solution other than rolling back demonetisation,” the former Income Tax department official told reporters in Amritsar.

Alleging that the RBI was “tight-lipped” on the amount of money demonetised or black money recovered, he asked the prime minister to explain how much of illegal wealth has returned and what amount of money was being pumped into the system.

Initial estimates by RBI suggest Rs 14 lakh crore (in high-value notes) was in circulation, which has returned to RBI, but only Rs 4 lakh crore of new currency of Rs 2,000 notes was available for circulation, said Kejriwal, who had criticised the drive soon after it was launched on November 8.

Financial experts all across the world have spoken against demonetisation, he said, but only BJP president Amit Shah and “his team of sycophants” were hailing the decision.

He also challenged the prime minister to order “any probe” against him. “I am not scared of Modi threats and open to any probe of my accounts by any central agency,” he said.

Kejriwal maintained that Modi accepted bribes from big corporates such as Sahara and Birla.

Modi had taken Rs 40 crore from Sahara on October 30, 2013 and Rs 25 crore from Birla group on November 12, 2013, he claimed, adding that the IT department has seized relevant documents from Sahara and Birla offices but no notice was issued to Modi.

He said under the IT Act section 132(4A), any document recovered during raid is deemed to be true unless proved wrong by the party accused. “Not even a notice was issued to Modi and all Income Tax Commissioners dealing with the case were transferred,” he said.

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  1. R
    Jan 12, 2017 at 5:54 pm
    Is AK is the most politician India ever had?
    1. W
      Dec 30, 2016 at 3:09 pm
      What demonetization tamasha has exposed is that paper money is fraud. It is backed by nothing!! I promise to pay the bearer xx means nothing.lt;br/gt;lt;br/gt;Replacing one form of paper money with another does not change the above facts.lt;br/gt;lt;br/gt;Common man can protect their savings as has been suggested by our shastras by investing in Gold and Silver. These have intrinsic value and cannot be demonetized by any government. lt;br/gt;lt;br/gt;Gold and Silver are premier currency. Example:lt;br/gt;lt;br/gt;1990 Gold Rs 4000 US$275lt;br/gt;2016 Gold Rs 30000 US$1150lt;br/gt;lt;br/gt;Do what the rich and powerful are doing after this anti-common man and anti-capital move. lt;br/gt;lt;br/gt;Within government limits keep Gold and Silver in India and if you have significant saving above it then store it in capital friendly countries outside India to prevent confiscation by government in future. lt;br/gt;lt;br/gt;Interesting that Rupee was made out of Silver (it means a silver coin) but over time it has been reduced to worthless paper.lt;br/gt;lt;br/gt;In London (LME) there are over 200 contracts for 1 physical ounce of gold traded. Like in the 1970s it is only a matter of time when it goes bust and the price of Gold and Silver sky rockets!!