On 8 Nov Professor Gourav Vallabh said live from AICC HQ on demonetization in favor of congress and apposition to BJP that” Black money has not reduced, Indians’ money in Swiss banks at a 14-year high”.
The fake currency also did not reduce, according to RBI’s 2021-22 report, 102% increase in fake 500 notes, and a 55% increase in 2000 fake notes.
He said, “The cash-in-circulation in the economy has grown by 72% in the last 6 years. This is due to the increase in the number of people using cash as their primary form of payment. With more people using cash, there is a greater need for it in the economy”.
In 2016, the cash circulation in the economy was 17.97 lakh crores, which has become 30.88 lakh crores today. The increase in cash flow has led to an increase in economic activity and has helped to boost the economy.
The cash circulation increased by 72% from cashless to less cash. This is due to the increase in the number of people using cashless methods to pay for goods and services.
He also said that There are a number of reasons for this, including the convenience of cashless payments, the increased security of cashless payments, and the rewards and discounts that many businesses offer for using cashless payments.
The biggest organized robbery in the history of India was done by the government on 8 November 2016 through demonetization.
Everyone will remember the day 8 November 2016, today the sixth anniversary of the decision to destroy India’s economy. Even after 50 days of demonetization, the government has not even taken the name of demonetization.
He said, “Out of the claims with which demonetization was done, none of the claims were fulfilled.”
PM Modi, who is eager to take credit for the smallest thing, also avoids taking the name of demonetization. There is no celebration today, no one says ‘Thank you, Modi Ji.