P. Chidambaram asks government to make cabinet note on demonetisation public

New Delhi: Congress leader P. Chidambaram on Friday accused the Modi government of shifting its goalposts on demonetisation and called upon Vice President M. Venkaiah Naidu to advise the government to make public the cabinet note last year on the move to junk high value currency notes.

Chidambaram’s remarks came in the wake of Naidu’s remarks at SRM University in Chennai on Thursday that the very purpose of demonetisation was to bring back money to the banks and it was achieved.

“Hon’ble VP was Minister in Cabinet that ‘approved’ demonetisation. Will he please advise government to make public the cabinet note on demonetisation?” Chidambaram said in a tweet.

The former Finance Minister also referred to remarks of former Attorney General Mukul Rohatgi that Rs 3 to Rs 4 lakh crore was not expected to return to the banking system and it was the black component of the currency in circulation.

“If purpose of demonetisation was to bring money back to banks, why did AG tell SC that government expects that about Rs 4 lakh crore will not come back?” Chidambaram asked.

Naidu had said that demonetisation was aimed at bringing in accountability and money had to come to the bank and it happened.

He had also said that money has come to banks with the address of its owner and once the money was back in the banks, the tax and the bank rates would go down.

Modi government had on November 8 last year demonetised notes of Rs 500 and Rs 1,000, citing aims that included curbing the menace of “black money and fake currency”.