Demonetisation face-off at Aaj Tak event: BJP's Piyush Goyal claims success; huge failure, says Sachin Pilot

Ahead of the first anniversary of demonetisation, the government continues to claim the many benefits of the controversial decision to ban high-value currency notes, while the opposition Congress called it a "colossal failure".

At a special event organised by Aaj Tak in New Delhi's Hotel Taj Palace, Union Minister for Railways and Coal Piyush Goyal said demonetisation, announced by Prime Minister Narendra Modi in a televised address on November 8 last year, has achieved its objectives.

"The nation is with the government in our fight against black money," Goyal said, as he listed the spike in digital transactions and higher tax returns as the demonetisation's many benefits.

In response, Pilot said the Modi government has been "unleashing tax terrorism" on its people. "Where are the big fish? It's like sucking water out of a pond to kill the crocodile. The reality is the fish have died while the crocodile walked safely out of the water," he said.

The Congress leader also asked why the government had not taken even the Reserve Bank of India (RBI) into confidence before taking such a radical step. Goyal said it was the government decision, and was backed by the RBI.

The BJP is celebrating November 8 as "Anti-Black Money Day" while the Congress, supported by a number of opposition parties, has called for a Black Day.