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Rahul Gandhi on demonetisation: Modi’s friends turned black money into white, it’s a scam

By: Express Web Desk | New Delhi |

Updated: August 30, 2018 5:45:13 pm

Congress chief Rahul Gandhi. (File) Congress chief Rahul Gandhi. (File)

Hitting out at Prime Minister Narendra Modi following a report by the Reserve Bank of India (RBI) that 99 per cent of the demonetised currency had returned to the system, Congress president Rahul Gandhi on Thursday said note ban had only helped the prime minister’s crony capitalist friends. “Prime Minister Narendra Modi carried out demonetisation to help 15-20 of his crony capitalist friends. That was the aim of demonetisation. PM’s friends converted black money into white money during demonetisation. It is a scam,” said Gandhi at a press conference in New Delhi.

The Congress chief also ridiculed the idea of demonetising currencies, saying it had hit the economy badly. “PM Modi must answer to the youth of the country on demonetisation which has hit the economy, brought down the GDP by 2 per cent and affected crores of jobs,” said Gandhi.

On Wednesday, the RBI claimed to have received Rs 15.31 lakh crore of Rs 500 and Rs 1,000 notes, or 99.3 per cent of the Rs 15.417 lakh crore worth of notes which were in circulation as on November 8, 2016, when the government announced demonetisation.

This effectively means that just Rs 10,720 crore of Rs 500 and Rs 1,000 notes failed to come back to the RBI, as against expectations that well over Rs 3 lakh crore of black money would not return to the banking system.

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