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Demonetisation turns 5 years … Priyanka Gandhi calls it a ‘disaster’, slams Center | Demonetisation: Priyanka Gandhi criticizes govt for banning banknotes

New Delhi: Congress leader Priyanka Gandhi today slammed the NDA government for turning a blind eye to the ban on banknotes, a crucial step in the fight against corruption.

Priyanka says ban on banknotes is the biggest tragedy the country has ever seen (Priyanka Gandhi) Described ‌. If the action taken by the Central Government was successful, why is the corruption not over yet? Why has black money not returned to the country yet? Priyanka asked.

Note Prohibition (Demonetization) If successful, why did corruption not end? Why is the black money not returned? Why does the economy not become cashless? Why is terrorism not affected? Why does inflation not end? Priyanka Gandhi tweeted in Hindi using the hashtag DemonetisationDisaster.

The Congress has repeatedly accused the NDA of banning banknotes in the interest of the people and adversely affecting the economy.

The ban on demonetisation by the central government was aimed at increasing the number of counterfeit notes in the country, curbing currency exchange and increasing digital money transactions.

Also Read: Demonetisation: The fight against corruption, today marks the fifth anniversary of the ban on notes

Prime Minister Narendra Modi announced the ban on November 8, 2016 at 8 pm. The Central Government banned 500 and 1000 notes in circulation. It is true that the sudden announcement of the ban on notes without any hint affected all the people of the country as well.

Recent figures show that the country is not showing any decline in currency exchange.

In the first week of November 2016, just before the ban, there were 17.97 trillion notes in circulation in the country. As per the bi-weekly data released by the Reserve Bank of India (RBI) for the week ended October 8, 2021, the value of direct currency transfer increased by 57.48% to Rs 28.30 lakh crore.

These figures indicate that the general public and the majority of traders are still interested in currency exchange.

However, the ban on banknotes has significantly reduced the flow of black money in the country. The benefits of the ban are seen as cleansing the country’s economy and curbing the financial resources of terrorist organizations.

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