One Year of Demonetisation LIVE Updates: PM Modi bows to people of India, Rahul Gandhi calls note ban a tragedy
Congress and other Opposition parties have decided to observe November 8, the date when PM Modi last year announced demonetisation, as "black day".
The past year have seen reactions on both sides of the spectrum - while the decision has been widely criticised by all opposition parties, the government has stood by its decision. While former Prime Minister Manmohan Singh called the demonetisation move disastrous, Finance Minister Arun Jaitley on Tuesday rejected the charge by saying there was an ethical and moral rationale behind the decision which had given a "new direction" to the economy.
Meanwhile, taking to micro-blogging site Twitter, Congress vice-president Rahul Gandhi on Wednesday said that demonetisation is a tragedy and he stands with millions of honest Indians, whose lives & livelihoods were destroyed by PM's thoughtless act.
HERE ARE THE LIVE UPDATES:
07:15 am: "I bow to the people of India for steadfastly supporting the several measures taken by the Government to eradicate corruption and black money," tweets PM Narendra Modi.
Here are the benefits of demonetisation, encapsulated in this short film. Have a look. #AntiBlackMoneyDay pic.twitter.com/rPmGUYnTzI— Narendra Modi (@narendramodi) November 8, 2017
07:15 am: Demonetisation is a tragedy. We stand with millions of honest Indians, whose lives & livelihoods were destroyed by PM's thoughtless act, says Congress vice-president Rahul Gandhi
07:00 am: Youth Congress members protested outside RBI office in Delhi on one year of demonetisation.
06:56 am: Haryana minister Anil Vij said only those parties "which have blackmoney left with them" will observe November 8, the first anniversary of demonetisation, as "black day".
06:40 am: Delhi Chief Minister Arvind Kejriwal said that GST has caused a lot of trouble to traders and there is a need for extending relief to them. "Demonetisation and GST have adversely affected the interests of traders resulting that most of them have shut down their business, which has further directly affected the employment," Kejriwal said.
06:30 am: "None of the reasons cited by Prime Minister Narendra Modi has come out to be true even a year after demonetisation. We cannot see even a single good thing which has come out due to this exercise," NCP leader Dhananjay Munde said.