Demonetisation disaster hurt economy severely: Stalin

Chennai: DMK President M.K. Stalin and PMK Founder S. Ramadoss on Thursday criticised the Central government for demonetising the Rs 500 and Rs 1,000 rupee notes in 2016.

In a tweet M.K. Stalin termed the demonetisation as “one man made disaster for India”.

On November 8, 2016, Prime Minister Narendra Modi in a television broadcast announced demonetisation of Rs 500 and Rs 1,000 rupee notes.

In his tweet Stalin said: “People were brought on streets with their money declared illegal. Indians stood in endless lines and many died outside banks, millions of jobs were lost, small industries shut and the economy hit irreversibly.”

On the other hand, Ramadoss said the day marks the second anniversary of not only demonetising Rs 500 and Rs 1,000 rupee notes but also of hurting the economy severely.