How will replacing Rs 1,000 notes with Rs 2,000 notes curb black money: Rahul Gandhi

Rahul said that the decision has thrown farmers, small shopkeepers and housewives into “utter chaos”, adding that, “real culprits sit tight on their black money stashed abroad or in bullion and real estate”. The Congress V-P further asked the PM: “How is replacing Rs 1000 notes with Rs 2000 notes going to make black money hoarding a lot harder.”

In a nationnwide address, the prime minister Tuesday announced that in a step to curb black money, the government will demonitise currency notes of Rs 500 and Rs 1000 from midnight November 8 to weed out fake currency from circulation. “Corruption, fake currency and terrorism are festering wounds, holding back the economy,” said Modi.