Demonetisation is independent India's 'biggest scam': Congress

On the second anniversary of demonetisation, the Congress alleged it was the 'biggest scam' of independent India that should be probed and asserted that the people will punish Prime Minister Narendra Modi for his 'wreckless decision'.

Congress's spokesperson Anand Sharma, at a press conference, also alleged that demonetisation was "a big money laundering project", NPAs have increased sharply, the banking system was struggling, and now the Modi government was bent on "snatching" the contingency reserves of the Reserve Bank of India (RBI).

His remarks came after Finance Minister Arun Jaitley said demonetisation resulted in formalisation of economy and increased tax base, with the government earmarking more resources for the poor and infrastructure development.

Congress' chief spokesperson Randeep Surjewala, while speaking to reporters, asked why the BJP government did not issue any advertisement or congratulate people on the second anniversary of demonetisation as they had done in the past.

He alleged that demonetisation was the "biggest scam" of independent India and that the black money of several people was converted to white through the move.

"What did the country get, was black money found, was counterfeit currency recovered, did it stop naxalism and terrorism, instead the Indian economy suffered a loss of Rs 3 lakh crore," he claimed.