Demonetisation: Nov 8 is 'anti black money day'

To counter the opposition parties' "black day" on November 8, the Union Government on Wednesday said that it would observe "Anti-Black Money Day".

The Opposition parties, led by the Congress, had said that they would observe "black day" on November 8 to registered their protest against the demonetisation, which was announced on the same day last year.

"On 8th November 2017, BJP will celebrate 'Anti-Black Money Day' in the nation," Finance Minister Arun Jaitley said.

Prime Minister Narendra Modi had on November 8, 2016, banned the existing Rs 500 and Rs 1,000 notes in a bid to curb the mencaes of black money hoarding, terror financing and fake currency. The government then issued new currency notes of Rs 500 and Rs 2,000 to replace the banned currency.

This had resulted in massive queues outside banks and ATMs as it took some time for the government to provide new currency notes to replce the old ones.

Congress leader Ghulam Nabi Azad on Tuesday said, "18-Party Opposition Coordination Committee met yesterday and decided to observe November 8 as a 'black day' due to demonetisation."

He said that former Prime Minister Dr Manmohan Singh was accurate when he estimated that the note ban would lead to a 2 percent drop in India's GDP.

OneIndia News