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Demonetization biggest scam of the year, must be investigated: P Chidambaram

Former Finance Minister P Chidambaram attacks government over the demonetization move.

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Continuing his attack on the Modi government over the note ban issue, former Finance Minister P Chidambaram on Tuesday said that demonetization was a biggest scam of the year and it must be investigated.

Addressing the media, Chidambaram said, "This is the biggest scam of the year and must be investigated. I cannot get Rs 2,000 note, how crores in Rs 2,000 notes found their way to individuals being raided all over the country."

Chidambaram also questioned what calculations did the government do to say that one can withdraw Rs 24,000 when banks don't have enough cash to dispense.

"Every bank says there is no cash. So how does the government says there is cash? This is why Dr Manmohan Singh said monumental mismanagement," he added.

"Who will compensate the 45 crore people who have been affected due to demonetization," he asked.

"I went for a wedding the other day, saw that the rich are not affected. It is the poor who are hurt. Has this stopped corruption, black money? The objective is not being served by this. Only poor people are being punished," he added.

The senior Congress leader also said that the long term impacts will be negative in terms of GDP figures, adding that even RBI's low projection shows it.

"Most economists say 1-2 percent negative impact. I believe people will not forget for what is being done to them and will certain not forgive the govt for it. Just because people are not protesting in the manner you are suggesting that does not mean that they are condoning what government is doing," he said.

Meanwhile, the Congress Party on Tuesday said the government is avoiding a discussion on demonetisation in the Parliament till the anger of the common subsides.

"They want to avoid a discussion in parliament till the time the anger of the common man melts down. That is why they are trying to delay it," said Congress leader Mallikarjun Kharge.

"It is not us, but they (ruling party) who are stopping the debate from taking place. They do not want their mistakes to be counted in parliament and want to hide their mistakes from the people. That is why they are delaying debate in parliament," he said.

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