Demonetisation caused financial chaos, anarchy: Congress


New Delhi, Nov 11: Senior Congress leader Anand Sharma on Friday accused the Modi government of creating “financial chaos and anarchy” in the country by demonetising Rs 500 and Rs 1,000 notes.

The former Union Commerce Minister in the earlier United Progressive Alliance government said he also raised his concern about the government’s “no information to the people” on the issue with Union Finance Minister Arun Jaitley.

The Congress leader said the Bharatiya Janata Party had raised strong objection to the then UPA government’s decision in 2005 to withdraw currency notes.

Sharma also dismissed as a “baseless argument” Jaitley’s contention that “terrorists and black money holders would have been alerted had the people been informed” of the government move on demonetisation.

“I asked the Finance Minister — he had called up — why people weren’t informed and given time. There are provisions in the Reserve Bank of India Act for such situations. People need to be alerted.”

“Had they been informed, people would have made arrangements. He replied, had this been done, the terrorists and defaulters who hoarded black money would have been alerted,” said Sharma.

“He said ‘they would have gone to the banks and deposited their money’. There can’t be more baseless an argument than this,” added Sharma.

Sharma flayed Jaitley for saying that farmers could take payments in cheques.

“He told me farmers could take payments in cheques or use credit cards. Are they living in India or somewhere beyond the earth?”