Former Union finance minister P Chidambaram launched a scathing attack at the ruling government led by Prime Minister Narendra Modi on the first anniversary of demonetisation. In a series of tweets, Chidambaram asked whether anyone can deny the loss of lives due to currency withdrawl. “Can any one deny lives were lost, small businesses closed and jobs were lost?,” he asked.
The Congress leader went on to ask the Central government to release RBI’s board agency, background note and former RBI governor Raghuram Rajan’s note. “If govt is confident of its decision, why does it fear releasing these documents?,” Chidambaram asked.
Citing BBC’s criticism of the noteban, Chidambaram went on to ask whether everyone not in favour of the move are supporters of black money. “Modi’s currency gamble damaged Indian economy” says BBC. Is BBC a supporter of black money and corruption?,” he asked.
The former Union minister further claimed that the black money will resurface during the Gujarat elections campaign. “Black money eliminated says Govt. Let the Gujarat election campaign start and you will find the ‘eliminated’ black money.”
Chidambaram went on to question Union Finance Minister Arun Jaitley’s terming demonetisation as “ethical”. “FM says demonetisation was “ethical”. Was it ethical to heap misery on millions of people, especially 15 crore daily wage earners?,” Chidambaram said.
The leader also questioned whether it was ethical to destroy jobs and force shutdown of micro and small businesses. “Was it ethical to give an easy way for converting black money into white as now discovered by Govt?” Chidambaram asked.
On November 8, 2016, Prime Minister Narendra Modi announced the decision to withdraw currency notes of higher denomination. in a bid to fight against black money, fake currency and terror funding.