Addressing the protesters, AICC Secretary Sanjay Dutt claimed the Prime Minister had not been able to achieve any of his `much advertised` objectives of demonetisation.
The Congress staged a protest here Friday on the second anniversary of demonetisation, accusing the Narendra Modi government of adopting "anti people measures".
Addressing the protesters, AICC Secretary Sanjay Dutt claimed the Prime Minister had not been able to achieve any of his `much advertised` objectives of demonetisation.
"Demonetisation has caused serious havoc to the economy of the country and has also aggravated unemployment problem among the youth. Around 1.5 million jobs were lost because of the ill conceived demonetisation policy," he alleged.
Dutt appealed to the party workers to ensure the defeat of Modi in the coming Lok Sabha polls and make Congress president Rahul Gandhi the next Prime Minister.
Chief Minister V Narayanasamy, PCC president A Namassivayam were among those who took part in the protest.
All the participants holding candles observed a minute`s silence in memory of those who died due to demonetisation.
Finance Minister Arun Jaitley Thursday said demonetization resulted in formalisation of economy and increased tax base, prompting the government to earmark more resources for the poor and infrastructure development.In a Facebook post on the second anniversary of demonetization, Jaitley said in first four years of the National Democratic Alliance (NDA) government, the number of income tax returns filers has gone up to 6.86 crore from 3.8 crore in May 2014.
By the time the first five years of this government are over, we will be close to doubling the assessee base, he said in the post titled Impact Of demonetization".The demonetization of Rs 500 and Rs 1,000 currency notes in November 2016, the minister said, had resulted in more formalisation (of economy), more revenue, more resources for the poor, better infrastructure, and a better quality of life for our citizens. He further said with the implementation of the goods and services tax (GST), it is now becoming increasingly difficult to evade the tax system and the indirect tax to gross domestic product (GDP) ratio has gone up to 5.4 per cent post GST, from 4.4 per cent in 2014-15.
Terming the criticism, that almost the entire cash money got deposited in the banks post demonetization, as ill-informed , Jaitley said confiscation of currency was not an objective of demonetization.Getting it into the formal economy and making the holders pay tax was the broader objective. The system required to be shaken in order to make India move from cash to digital transactions. This would obviously have an impacton higher tax revenue and a higher tax base, Jaitley said.The government had on November 8, 2016, announced ban on old 500 and 1000 rupee notes, to curb black money in the system.
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 "Demonetization caused havoc to country's economy: AICC Secy")
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