Demonetisation was ill-conceived, Modi must apologise to people: Uttam Kumar

Hyderabad: Nalgonda Congress MP N Uttam Kumar Reddy said that the Bharatiya Janata Party (BJP) government has finally admitted that it has failed in achieving all the objectives of demonetisation, implemented in November 2016.
Uttam Kumar Reddy said that demonetisation failed to achieve its objectives of curbing black money, eliminating counterfeit currency, and promoting digital payments.
Reddy said, “The data has proved that the demonetisation was an ill-conceived and poorly executed move which had severe economic consequences.” He demanded that PM Modi apologises to the nation for causing hardship to the common man while executing a disastrous plan in a press release on Monday.
“The statistics pertaining to Currency in Circulation (CiC) and the value of Notes in Circulation (NiC) provided by the Finance Minister clearly shows that none of the objectives of demonetisation was achieved by the Modi government,” said the Congress leader.
The data was provided as a part of the written reply given by Union Minister Nirmala Sitharaman to a question raised by Reddy during the Question Hour in the Lok Sabha on Monday.