Demonetisation failed to check black money, rural economy collapsed, says Pawar | india-news | Hindustan Times
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Demonetisation failed to check black money, rural economy collapsed, says Pawar

NCP chief Sharad Pawar asked the people to come on the streets in a peaceful manner to protest against “hypocrisy” of the Bharatiya Janata Party-led Central government.

india Updated: Dec 30, 2016 11:11 IST
Nationalist Congress Party chief Sharad Pawar.
Nationalist Congress Party chief Sharad Pawar.(PTI photo)

Nationalist Congress Party (NCP) chief Sharad Pawar on Friday said Centre’s demonetisation move had failed to curb black money in the country and questioned the “real reason” behind its roll out.

“The rural economy has collapsed. Farmers and the cooperative movement have been affected due to denomination. The move has failed to curb black money. Rs 14.38 lakh crore out of Rs 15.42 lakh crore are deposited in banks till date. If this is the outcome of this major decision then what was the real reason behind it?” he asked.

Pawar asked the people to come on the streets in a peaceful manner to protest against “hypocrisy” of the Bharatiya Janata Party-led Central government.

He was speaking at an inauguration function of the refurbished YB Chavan auditorium at a cooperative bank in Ahmednagar, Maharashtra.

“Common people are standing in queues since the last 50 days, but no black money-holder has been seen standing there. The farmers have lost the hope due to the falling prices of agri products. All the sensible and common citizens are now worried about the future,” he said.