The Congress on Wednesday attacked the Narendra Modi government on the seventh anniversary of demonetisation, saying the ‘reckless’ decision broke the back of the Indian economy and the country will not forgive the prime minister for this ‘monumental disaster’.
Congress leader Jairam Ramesh claimed that demonetisation led to destruction of the economy and the GDP growth momentum created from 2011 onwards was completely reversed. India’s GDP growth rate increased steadily from 5.2 percent in 2011 to 8.3 percent in 2016.
Then, the demonetisation disaster hit, and growth started to slow, all the way to four per cent just before the COVID-19 pandemic, he noted.Read more
(Published 09 November 2023, 00:23 IST)