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Demonetisation did not meet its objectives: P Chidambaram

Nov 09, 2018 00:03 IST
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Speaking on the 2nd anniversary of demonetisation, former Finance minister, P Chidambaram said that none of the objectives laid down by Prime Minister Narendra Modi were achieved, as it did not put an end to the use of black money. He said that on daily basis, the IT department claimed to have seized black money. However, it did not put an end to the fake currency. He further said that demonetisation did not render any currency notes worthless, and the government did not reap any money. All the notes were returned to the Reserve Bank of India (RBI). Demonetisation was the most ingeniously designed money laundering scheme, he added.