Months after Prime Minister Narendra Modi announced the government’s decision to demonetise old Rs 500 and Rs 1000 notes, the Reserve Bank of India stated that 99 percent of the outlawed currency notes have returned back in the system. The Central Bank has stated in its annual report that Rs 15.28 lakh crore or 99% of Rs 15.44 lakh crore have found its way back into the system.
The report further stated that around 8.9 crore units of banned Rs 1000 noted had not returned into the system. Following the RBI report, agitated social media users and the members of the opposition trained their guns at the Narendra Modi led central government while terming demonetisation as a huge failure. Some of them have gone ahead and shared Prime Minister’s speech during demonetisation.
Apart from reminding PM Modi his own statement, social media users have come out to question whether all the pain undertaken by the people of the country during note ban was worth it.
Pic 1 : Reality of #Demonetisation ; Was it worth it?
Pic 2 : What Modi had said, Has that been achieved?Lets not change the goal-post now pic.twitter.com/yhECJujfvf
— AAP Ka Mehta (@DaaruBaazMehta) August 31, 2017
While taking on rivals and promising to provide a “clean” country, teary-eyed Prime Minister had said, “Give 50 days, burn me alive if I’m wrong.”
“I have asked the country for just 50 days. If after December 30, there are shortcomings in my work or there are mistakes or a bad intention found in my work, I will be prepared for the punishment that the country decides for me,” Modi had said while defending the government’s decision.
Here’s how social media users are reacting:
If intent of #Demonetisation was to stop blackmoney/corruption, why are cash political donations still allowed? Electoral Bonds, even worse!
— VISHAL DADLANI (@VishalDadlani) August 31, 2017
Modi ji said Demonetisation would end black money and terrorism ! Both rising.Why nation was lied. Govt sud apologise. #DeMonetisationFailed
— ashutosh (@ashutosh83B) August 31, 2017
A colossal failure which cost innocent lives and ruined the economy. Will the PM own up? #DemonetisationDisaster https://t.co/YXNdW8xBTL
— Office of RG (@OfficeOfRG) August 30, 2017
Demonetisation failed.
110 poor people lost their lives for nothing, but a govt gimmick to divert attention from Najeeb & Bhopal Encounter.
— Shehla Rashid (@Shehla_Rashid) August 31, 2017
Funny thing is, this strip still doesn’t capture the epic failure of a policy called demonetisation – pic.twitter.com/rXCya3Mc47
— Spoorthy Mottera (@SpoorthyMS) August 31, 2017
#Demonetisation revealed the gravest flaw in our democracy – gullibility of the masses before a demagogue.
— SonaliRanade (@sonaliranade) August 31, 2017
#DemonetisationDisaster Those who say demonetisation is good in long run should recall the quote: ‘In the long run we are all dead
— parul jain (@paarul45) August 31, 2017
Hey @bhupendrachaube here’s a look at the human face of the “masterstroke” you claim. #DeMonetisation pic.twitter.com/EHHvVpkknF
— Subhabrata Dasgupta (@SubhDasgupta) August 31, 2017
Meanwhile, Finance Minister Arun Jaitley slammed the opposition leaders for lashing out at the RBI report asserting that those who raise questions on demonetisation do not understand it. “Object of demonetisation was not confiscation of money. The object of demonetisation was that India is predominantly high cash economy therefore that scenario requires being significantly altered,” Jaitley said during a press conference.
While West Bengal Chief Minister Mamata Banerjee called demonetisation as a “big scam” and “flop show”, Congress Vice President Rahul Gandhi labelled it as a “colossal failure.”
Read More: What was the aim Demonetisation in first place? Here are 6 confusing answers from the govt
