Political uproar erupted since Prime Minister Narendra Modi initiated the demonetisation policy, following which there had been a ban on currency notes of the denomination Rs 500 and Rs 1,000.
Over heated political controversies relating the demonetisation policy implemented by the Narendra Modi government, Delhi Chief Minister Arvind Kejriwal today claimed that the policy initiated by the central government is a huge scam, worth at least Rs 8 lakh crores.
Political uproar erupted since Prime Minister Narendra Modi initiated the demonetisation policy, following which there had been a ban on currency notes of the denomination Rs 500 and Rs 1,000 and the old notes are replaced with new paper currencies. After the ban on the mostly used notes in the country, public distress continued, with people standing on ‘never-ending’ queues outside banks and ATMs, to exchange their old currency notes and collect the new usable cash for their daily use. Even as th implementation reached its eleventh day, people had been seen queuing up outside banks and ATMs from the night, waiting for the banks to open in the morning.
The central government’s move to put a ban on currency notes, replacing it with newer ones, came in the wake of the rise in circulation of blackmoney in the country. Since the implementation of the anti-graft policy, the opposition parties had locked horns with the center, with many blaming the Modi government of creating public distress. Oppositions had also planned and cornered the ruling party in the parliament and huge uproar erupted in both Lok Sabha and the Rajya Sabha. Over heated debates and protest by the oppositions, the Lok Sabha had been adjourned till Monday.
However, the Prime Minister and his party leaders had taken an aggressive tone on the issue and Modi claimed the step as a mandate at the present scenario. Union Minister Venkaiah Naidu had also defended the move calling it ‘short-term pain for a long-term gain’.