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)


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."

ALSO READ | Congress GST will be simple and 18 per cent in 2019, says Rahul Gandhi

“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'.

Stay up to date on all the latest Nation news with The New Indian Express App. Download now
(Get the news that matters from New Indian Express on WhatsApp. Click this link and hit 'Click to Subscribe'. Follow the instructions after that.)


Disclaimer : We respect your thoughts and views! But we need to be judicious while moderating your comments. All the comments will be moderated by the editorial. Abstain from posting comments that are obscene, defamatory or inflammatory, and do not indulge in personal attacks. Try to avoid outside hyperlinks inside the comment. Help us delete comments that do not follow these guidelines.

The views expressed in comments published on are those of the comment writers alone. They do not represent the views or opinions of or its staff, nor do they represent the views or opinions of The New Indian Express Group, or any entity of, or affiliated with, The New Indian Express Group. reserves the right to take any or all comments down at any time.

flipboard facebook twitter whatsapp