Demonetisation Dented India's Unorganised Sector, Benefited Biggest Billionaires: Rahul Gandhi

Continuing with his attack on the BJP-led central government over the state of economy, Congress leader Rahul Gandhi in a video alleged that the demonetisation was an attack on India's unorganised sector and a move to benefit India's biggest billionaires.

The video posted by Gandhi on his Twitter handle was second in series where he explained the  "the intention behind" the demonetisation move.

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— Rahul Gandhi (@RahulGandhi) September 3, 2020

The Congress leader said the Centre's move affected farmers, labourers, small shopkeepers who are part of the unorganised sector.

"What did India's poor get out of demonetisation? The answer is 'nothing'. Then who benefited from it? The advantage was taken by India's biggest billionaires," Gandhi said.

Gandhi said the second aim of demonetisation was to wipe out cash from the system. " The Prime Minister himself said that he envisaged a cashless India. But in a cashless India, the informal sector will be destroyed," he added.

The Congress has stepped up its attack on the government after the country's economy suffered its worst slump on record in April-June, with the gross domestic product (GDP) contracting by 23.9 per cent as the coronavirus-related lockdowns weighed on the already-declining consumer demand and investment.

The GDP contraction in the world's fifth-largest economy compared with a 3.1-per cent growth in the preceding January-March quarter and a 5.2-per cent expansion in the same period a year ago, according to official data released on Monday. 

(With agency inputs)