Congress leader P Chidambaram attacks Modi government again, says corruption thrives despite demonetisation

Chidambaram once again teared into the Centre over its demonetisation drive, citing it was a "colossal mistake," and that corruption thrived despite its implementation.

Published: 12th November 2017 11:47 AM  |   Last Updated: 12th November 2017 11:47 AM   |  A+A-

Congress leader P Chidambaram (File | AFP)

By ANI

NEW DELHI: Senior Congress leader and former Finance Minister P Chidambaram on Sunday once again teared into the Centre over its demonetisation drive, citing it was a "colossal mistake," and that corruption thrived despite its implementation.

The former finance minister took to Twitter and posted a series of tweets that said: “A year after demonetisation, every justification trotted out for that decision has been rebutted and ridiculed. Let me begin with the justification that was disarmingly simple and had gained considerable traction: ending the counterfeiting of currency."

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“One year later we are told that out of the Rs 15,28,000 crore (by value, of demonetised currency notes) that was returned to the RBI, there was only Rs 41 crore, by value, of fake currency! Hence, demonetisation was not the answer to fake Indian currency notes (FICN). The same could be said about the other two objectives declared by the Prime Minister on November 8, 2016: ending corruption and eliminating black money.”

“Despite demonetisation, corruption thrives. Bribe givers and bribe takers are being caught regularly, often red-handed. As far as black money is concerned, income that is taxable is generated every day, a portion of that income escapes tax and is used for various  purposes — such as giving bribes, funding elections, paying capitation  fees, betting, hiring casual labour etc," he added.

Ever since the inception of the demonetisation drive last year, the BJP and the Congress-led Opposition have been facing off over the viability of the move in the nation.

While the Opposition observed 'Black Day' on the one-year anniversary of the move, the BJP celebrated it as 'Anti-Black Money Day'.

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