Demonetisation anniversary: BJP, Congress, AAP; see how the parties will observe one year of Note Ban

It is almost a year (November 8, 2016) since the government of India announced and ordered an end of Rs 500 and Rs 1000 banknotes as legal tender. Back then few people could understand in a moment what had passed and what was about to come – Demonetisation was almost unheard of by ordinary people. In few days as people realised that the money and wealth in these denominations will have to be converted as the notes were to be banned, there was chaos everywhere. More so because the guidelines and the process for converting the old notes issued by the government meant a lot of inconvenience to people.

While the BJP has stuck to its guns, opposition is adamant it was an ill-aimed move. So, here’s how the political parties will ring in the demonetisation anniversary.

Bhartiya Janta Party

The first anniversary of Demonetisation would be celebrated on November 8. The ruling Bhartiya Janta Party (BJP) will celebrate it as ‘Anti-Black money Day’ across the country. Note Ban was aimed at awakening country that black money is of no use. Finance Minister Arun Jaitley declared that BJP will observe one year of demonetisation on November 8 across the country as anti-black money day. Union Ministers, party leaders from states as well Centre and party functionaries will be touring the length and breadth of the country to underscore the Modi government’s moves against corrupt economy.

Congress

Interestingly, main Opposition party, Congress will stage a protest against Demonetisation all over Rajasthan against the death of 40 people who died while standing the queues of banks. According to the party, the Note ban move had crippled the economy, worsened the unemployment problem and failed to achieve its purpose in the country. Some 115 people had died while standing in queues to withdraw money from their own bank accounts. The Congress’s Delhi unit will form a human chain on November 8, the first anniversary of demonetisation, which the party will observe as “Black Day”.

Aam Aadmi Party

The AAP will observe November 8, the day Prime Minister Narendra Modi demonetised Rs 500 and Rs 1000 currency notes last year, as ‘Fraud Day’. AAP will stage nationwide protest to mark demonetisation’s first anniversary, aiming to highlight the wrong decisions taken by policies implemented by the BJP in the last three years.

DMK

Interestingly, hours after PM Modi met ailing DMK President M Karunanidhi yesterday, DMK asked its district units except eight-rain affected districts to hold a massive demonstration to observe November 8 as ‘Black Day’. Condemning the BJP government at the Centre, all the DMK cadres wearing black clothes would take part in the demonstration to be led by the district secretaries at their respective district headquarters on November 8 marking the first anniversary of the demonetisation.

 

RPI (A)

Union minister Ramdas Athawale’s RPI (A), an NDA ally, will observe the first anniversary of demonetisation on November 8 as the “white money day”. Athawale said he planned the initiative to thank Prime Minister Narendra Modi for targetting black money through ‘notebandi’ last year, wherein high value currencies of Rs 500 and Rs 1,000 were withdrawn from circulation. Athawale said his party will hold programmes near statues of B R Ambedkar in Maharashtra on November 8 to mark the “white money day”. He said the RPI (A) will hold the Vidarbha Rajya convention in Nagpur on November 19. Hailing the note ban, the Dalit leader said even Ambedkar had suggested a “change in currency every ten years”.

About Demonetisation

On ‘8 November 2016’, the Government of India under PM Narendra Modi announced the demonetisation, commonly called notebandi, of all Rs 500 and Rs 1,000 banknotes of the Mahatma Gandhi Series.

The Modi government claimed that the action would curtail the shadow economy and crack down on the use of illicit and counterfeit cash to fund illegal activity and terrorism. However, sudden nature of the announcement and the prolonged cash shortages in the weeks that followed—created significant disruption throughout the Indian economy, threatening economic output.

When Prime Minister Narendra Modi announced ‘Demonetisation’ on national television, the governments stated objective were – One, it is an effort to make India corruption free. Two, it is done to curb and control black money. Three, to manage escalating price rise. Four, to prevent funds flow to illegal activities. Five, to make people accountable for every rupee they possess and pay income tax return. Finally, they put it as an attempt to make a cashless society and provide a Digital India what was deemed as necessary.

According to the government, Modi’s policy has helped motivate people to pay income tax returns. Now there is no chance to play hide and seek to declare their income and pay tax. Individuals are required to submit PAN for any deposit of above Rs 50,000 in cash. This move helped the income tax department track individuals with high denominations currency.