GUWAHATI, Sept 1 - Former Chief Minister Tarun Gogoi has described the Narendra Modi-led BJP government�s November 8, 2016 demonetisation move as a big scam.
In a statement here, Gogoi said the annual report of the Reserve Bank of India meant for 2016-2017, has revealed that the move of Prime Minister Modi to do away with black money applying the instrument of demonetisation has totally failed.
It has come to light from the RBI annual report that 99 per cent of the junked notes of Rs 1,000 and Rs 500 denominations have returned to the banking system. In its annual report, the RBI has maintained that Rs 15.28 lakh crore of the junked currency had come back into the banking system, leaving only Rs 16,050 crore out of its purview.
If that be the case, now Modi is to explain as to where the huge sum of black money, he was screaming about, has gone, Gogoi said. It seems that Modi with his demonetisation move provided the owners of the black money a scope to make white whatever black money they possessed, the former CM alleged.
It is also a fact that with its demonetisation drive the Modi government has spent an additional amount of Rs 4,544 crore to print new currency. This is a 132.4 per cent rise in the cost of printing new currency, said Gogoi.
Modi is now silent on the much trumpeted black money issue. But his demonetisation drive has made lakhs of Indians lose their jobs and a sizeable number of the country�s people their lives, said Gogoi.