Demonetisation a deliberate move by ‘PayPM’ to help billionaire friends: Rahul

Rahul had used ‘PayPM’, a wordplay on PayTM, to attack Modi after Bommai came under fire following allegations of giving cash as gifts to journalists

In a striking parallel to its attack on Karnataka Chief Minister Basavaraj Bommai, Congress on Tuesday targeted Prime Minister Narendra Modi for his decision on demonetisation, describing him as 'PayPM' who ensured a couple of his billionaire friends to monopolise the Indian economy and finish small and medium businesses.

The Karnataka Congress has launched a campaign – PayCM – earlier this year against Bommai for alleged corruption in his government, which the party said had struck a chord with people in the poll-bound state and BJP hitting back with complaints leading to arrests of party supporters who were using the campaign.

On the sixth anniversary of demonetisation of high value currencies of Rs 500 and Rs 1,000, Rahul Gandhi tweeted, “Demonetisation was a deliberate move by ‘PayPM’ to ensure 2-3 of his billionaire friends monopolise India’s economy by finishing small and medium businesses.”

A few days ago, Rahul had used ‘PayPM’, a wordplay on the digital payment platform PayTM, to attack Modi after Bommai came under fire following allegations of giving cash as gifts to journalists. Rahul has been attacking the Modi government on demonetisation and other economic measures for the past few years.

Congress president Mallikarjun Kharge also joined the attack on Modi, borrowing former Prime Minister Manmohan Singh’s critique of the demonetisation that it was an “organised loot and legalised plunder”.

Recalling the death of around 150 people, who he said lost their lives due to the demonetisation “disaster”, he said it was important to remind the Prime Minister about the “ill-conceived calamity which he thrust upon the nation” as the country’s growth “plunged”, crores of job lost, small businesses “destroyed”, savings “extinguished” and poor “suffered the most”.

Kharge said the Prime Minister wanted 50 days to set things right but the nation has given him six years and he has failed to realise the claims of tackling terrorism and black money among others. He said the Modi government had claimed that Rs 3-4 lakh crore demonetised currency will not return to the system to enable wiping out blackmoney but the reality was that 99.3 per cent demonetised currency came back to the system.

“PM Modi, Will you ever apologise for this epic disaster ? Will you ever pay tribute to those 150 who lost their lives in bank queues or medical emergencies, and provide solace to their families ? Would you ever understand the pain that demonetisation inflicted on our people ?” Kharge tweeted.

Accusing the government of "beating its own drum on the criminal act of demonetisation, against all good sense, evidence and advice", CPI(M) General Secretary Sitaram Yechury said, “the sixth anniversary of Modi and his government's hubris, killing off the Indian economy. Demonetisation has resulted in chaos apart from a record high of cash in circulation. Rs 30.88 lakh crore! The worst ‘jumla’ of all - 'This suffering is only for 50 days'."

Trinamool Congress Rajya Sabha leader Derek O'Brien said, "Six years ago, today. A gimmick that turned out to be an economic genocide demonetisation."

CPI General Secretary D Raja asked people to remember the “ insensitive and irresponsible decree of a demagogue, and remember the hardships our people faced” on the sixth anniversary of demonetisation.

“No stated objective of #demonetisation -curbing black money and counterfeit currency, eliminating terrorism or cashless economy- was fulfilled. Who is responsible?” Raja tweeted.