Demonetisation verdict: SC ruled on process, says Opp; Congress seeks apology by PM

The party also criticised the BJP, which demanded an apology from Rahul Gandhi in the wake of the SC verdict. It said Prime Minister Narendra Modi should, in fact, apologise, as his “Tughlaqi decision” had devastated small- and medium-scale businesses, destroyed the informal sector, and finished off livelihoods of lakhs of families.

“We are still facing the brunt of the negative impact demonetisation had on the economy. So if anybody has to apologise, then the so-called father of new India should apologise,” Ramesh said.

Former Finance minister and senior Congress leader P Chidambaram said the minority judgment delivered by Justice B V Nagarathna highlights the “illegality and irregularities” in the demonetisation exercise. “It may be only a slap on the wrist of the government, but a welcome slap on the wrist,” he said. “The dissenting judgment will rank among the famous dissents recorded in the history of the Supreme Court.”

Chidambaram said the minority judgment brings out the distinction between the plenary legislative power of Parliament and the limited power of the executive government.

Ramesh said the court has only pronounced a judgment on whether Section 26(2) of RBI Act, 1934 was correctly applied before announcing demonetisation — “nothing more, nothing less”.

He said, “The verdict has nothing to say on whether the stated objectives of demonetisation were met or not. None of these goals — reducing currency in circulation, moving to a cashless economy, curbing counterfeit currency, ending terrorism and unearthing black money — was achieved in significant measure. The majority verdict deals with the limited issue of the process of decision-making, not with its outcomes.”

The CPI(M) Politburo said: “The majority judgment merely upholds the right of the government to take such a decision, and in no way endorses the consequences of such a decision.”

The NCP said the Centre cannot absolve itself of blame for the distress suffered by people as a result of the decision.