The Government of India announced the demonetisation of all ₹500 (US$7.80) and ₹1,000 (US$16) banknotes of the Mahatma Gandhi Series.
Here is what political parties or their leaders had said about the PM Modi's shocker:
1. Mamata Banerjee
Hitting out at the NDA government for demonetisation of Rs 500 and Rs 1000 notes, West Bengal Chief Minister Mamata Banerjee had said it has resulted in “complete disaster and chaos”, and urged the Centre to rescind the ‘hasty decision’. “Please save people from this disaster. Roads are closed, markets shut, patients not being admitted to private hospitals, millions affected, chaos everywhere,” Banerjee said in a statement.
2. Aam Aadmi Party
Aam Aadmi Party (AAP) had termed the demonetisation as a 'Tughlaki farman' - (Tughlak's diktat) and had said "the move was made to save big businessmen who hold black money".
PM Modi's announcement on demonetization was a blow to the farmers and poor, AAP leader Sanjay Singh had said.
[MUST READ] Demonetisation flashback: Here's what international figures said about notes ban
3. Vishwa Hindu Parishad
The Vishwa Hindu Parishad had termed the note ban by the Modi government as “historic and bold”. It said it will not only curb black money but also terrorism and smuggling. VHP’s international joint General Secretary Surendra Jain appealed to the people of the country to stay with the Union government’s important decision and implement it wholeheartedly.
4. Akhilesh Yadav
UP CM Akhilesh Yadav had said while the Samajwadi Party is against black money, he would like the Centre to ensure that common people, farmers and poor are not put to trouble due to the demonetisation move.
The decision was taken in haste and people were facing a lot of difficulties because of the decision, the Chief Minister said.
5. Naveen Patnaik
Odisha CM Naveen Patnaik had welcomed Modi’s announcement of demonetisation of Rs. 1,000 and Rs. 500 notes.
Patnaik had said, “I welcome this move of Union government. Demonetisation of higher denomination currency notes in circulation to check black money has been a public suggestion to the CBDT panel since long. I am happy that the Central government has shown the political will to implement it.”
6. Asaduddin Owaisi
AIMIM President Asaduddin Owaisi had termed the move to scrap Rs 500 and Rs 1000 notes as “hasty” and had said it has created a panic situation and landed the poor and middle-class in deep trouble. He had urged Prime Minister Narendra Modi to immediately “recall” his decision.
7. Telugu Desam Party
Minutes after the Prime Minister had announced the demonetisation of Rs 500 and Rs 1,000 notes, Andhra Pradesh Chief Minister N Chandrababu Naidu from (TDP) had welcomed the measure, describing it as a move in the direction of unearthing black money.
8. CPI (M)
Reacting to PM Narendra Modi’s decision to stop existing Rs 500 and Rs 1000 currency notes, the CPI (M) polit bureau on Wednesday termed the initiative to be a “political posturing”.
9. Congress party
The Congress party had criticised scrapping of Rs. 500 and Rs. 1,000 notes. It alleged that the ruling dispensation at the Centre was putting cumbersome burden on the people.
Congress spokesperson Randeep Singh Surjewala wondered whether the country’s banking sector was ready to tackle such a situation.
“Modi ji has withdrawn the Rs. 1,000 note on one hand and he has introduced a Rs. 2,000 note on the other side. Does it not defeat his own argument? What is the point of cancelling large denomination notes and replacing them with even larger denominations? Those who hoard black money will now be able to stash even more money,” he said, reported PTI.