2nd anniv of demonetisation: Opposition still critical, BJP leaders hail it as necessity

“Demonetisation is a black day in the history of Indian economy. Demonetisation has not improved the economy but it affected the public and small traders,” AMMK leader TTV Dhinakaran told reporters here on Thursday. There will be a regime change in the Centre and we will not align with sides that have the BJP and the DMK, Dhinakaran said.

BJP leader Tamilisai Soundarajan tweeted demonetisation as a measure to curb black money and termed the move as a cleansing initiative by the strong Narendra Modi-led government.

RSS ideologue and RBI deputy director S Gurumurthy also tweeted in support of the note ban. “But for demonetisation asset price driven fake growth wouldn’t have stopped. India would have collapsed by 500 – 1000 explosion to over Rs 30 lakh crore by now like subprime credit in US, tax base would have not expanded,” Gurumurthy tweeted. “GST would have been impossible. Opposition to demonitisation is ideological. Demonitisation stopped this economic destruction at the cost of fake growth for a year. The growth driven by asset price rise led consumption fuelled by withdrawal of capital gains tax was a mirage. Continuation of it would have been disastrous. Demonitisation was an inevitable purgative,” Gurumurthy tweeted.

TDP chief Chandra Babu Naidu and Trinamool Congress leader Mamta Bannerjee also called it a disaster.