Rahul Gandhi: Demonetisation contributed to GDP fall

Gandhi alleged that Prime Minister Narendra Modi wishes to make India a cashless economy while pointing out that the unorganised sector, which comprises the poor, farmers, labourers and small traders, works on cash.

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Gandhi claimed that the move neither erased black money nor did the poor benefit from it.

With GDP contracting by 23.9% in the June quarter, the Congress Thursday accused the ruling BJP of pushing the country towards an economic collapse and a financial emergency. Congress leader Rahul Gandhi said the steep crash in the GDP was a result of the government’s demonetisation policy of 2016.

He said the note-ban, “hasty” implementation of GST and lockdown were “disaster strokes”, not “master strokes”.

In a short video on demonetisation, Rahul said its goal was to wipe out cash from the system. Linking the GDP slump to demonetisation, he said “the dice thrown on November 8, 2016…its scary result came out on August 31, 2020.” Rahul said Prime Minister Narendra Modi had declared that he wanted a cashless India, but “if there is cashless India, the informal sector will be destroyed”.

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