3rd Anniversary Of Demonetization: 'Knew It Would Ruin Lives', Says Mamata

Prime Minister Narendra Modi, in a televised address on November 8, 2016, had announced to the nation that Rs 500 and Rs 1,000 currency notes -- 86 per cent of all currency notes in circulation in value -- would cease to be legal tender. Modi had said that the decision was taken to crack down on black money, terror funding and corruption.

West Bengal CM Mamata Banerjee (FILE PIC/AFP)

Kolkata: On the third anniversary of demonetization, West Bengal Chief Minister Mamata Banerjee attacked the Modi government by calling the note ban a futile exercise which had a negative impact on the country's economy. The chief minister said on Twitter that she knew from the very beginning that the decision would ruin millions of lives. "Today is the third anniversary of #DeMonetisationDisaster. Within minutes of announcement, I had said that it will ruin the economy and the lives of millions. Renowned economists, common people & all experts now agree. Figures from RBI have also shown it was a futile exercise," the chief minister tweeted.

Today is the third anniversary of #DeMonetisationDisaster. Within minutes of announcement, I had said that it will ruin the economy and the lives of millions. Renowned economists, common people & all experts now agree. Figures from RBI have also shown it was a futile exercise 1/2

— Mamata Banerjee (@MamataOfficial) November 8, 2019

"Economic disaster started on that day and look where it has reached now. Banks stressed, economy in a complete slump. All affected. From farmers to the young generation to workers to traders, housewives... everyone is affected," she added.

Economic disaster started on that day and look where it has reached now. Banks stressed, economy in a complete slump. All affected. From farmers to the young generation to workers to traders, housewives... everyone is affected 2/2

— Mamata Banerjee (@MamataOfficial) November 8, 2019

Mamata, during her campaign for the Lok Sabha elections, earlier this year, had promised to conduct an investigation into the demonetisation drive.

On the night of 8 November, 2016 barely after #Demonetisation was announced, only Mamata Banerjee got it spot on. Five tweets pic.twitter.com/6J89b3pDKZ

— Derek O'Brien | ডেরেক ও’ব্রায়েন (@derekobrienmp) November 8, 2019

On the first anniversary of note ban, Mamata had protested by turning her Twitter display picture black. When demonetization was launched in 2016, Mamata had called it a "financial chaos and disaster that's let loose on the common people of India" On several occasions, the Trinamool Congress supremo alleged that the Narendra Modi government's move was a "big scam" which benefited only a handful of people. Prime Minister Narendra Modi, in a televised address on November 8, 2016, had announced to the nation that Rs 500 and Rs 1,000 currency notes -- 86 per cent of all currency notes in circulation in value -- would cease to be legal tender. Modi had said that the decision was taken to crack down on black money, terror funding and corruption. (With additional information from PTI)