Hyderabad: The Supreme Court on Monday upheld the government’s demonetisation in November 2016. Rejecting a clutch of petitions challenging the demonetization, the apex court in a 4:1 verdict ruled that the decision-making process was not flawed.
As the saffron party hailed the verdict as a big win for Prime Minister Narendra Modi, AIMIM chief Asaduddin Owaisi challenged the BJP to celebrate ‘Demonetisation Day’. Owaisi hit out at the Modi government, claiming that the demonetisation led to a decline in the growth of the GDP to 4 per cent in 2019-2020 from 8.3 per cent in 2016-17.
Why don’t you celebrate ‘Demonetisation Day’ he asked PM Modi and BJP. Daring BJP to celebrate Demonetisation Day Owaisi said, “If demonetisation was a success and if they think it was a success we challenge the BJP why don’t they celebrate ‘Demonetisation Day’.”
Owaisi pointed out that women, daily wage workers, artisans, drivers, electricians, and masons were affected owing to demonetisation. Quoting a report, he noted 50 lakh people lost employment.
The 5-judge Constitutional bench, headed by Justice S A Nazeer, upheld the government’s decision to invalidate high-value banknotes in November 2016.
In a 4:1 verdict, justice BV Nagarathna differed with the other judges on the question of whether all procedures were duly followed before taking the decision.
