Supreme Court Refuses To Interfere With Centre’s Policy On Demonetisation

The Supreme Court in its interim order on demonetisation, refused to interfere with the Centre’s decision firmly underlining that “these are matters of fiscal policies”. The court further restrained all high courts from examining the issue, stayed proceedings there and transferred them to itself. Stressing that the government is the best judge, the court also refused to extend dates for exemption of old Rs 500 and Rs 1,000 currency notes for certain services. After referring questions related to the policy to a five-judge constitution bench, the court said the government should try its best to honor commitment on weekly withdrawal of Rs 24,000 per person. The court had earlier asked the government how people were getting huge amounts of money in new currency referring to the seizures being made across the country.