Demonetisation is a big scam: Mamata Banerjee

"Demonetisation is a big scam. I repeat, demonetisation is a big scam. If thorough investigation is conducted, this will be proved. Demonetisation was not to combat black money. It was only to convert black money into white money for vested interests of political party in power.Black money became ‘white fund’ for them and the country was plunged into darkness," Banerjee posted on Facebook.

"No black money could yet be brought out from the foreign accounts," she said.

Banerjee said the move yielded no result.

Banerjee even called note ban as a devil act performed by the Centre on Nov 8, 2016.

"In all practical sense, it yielded big, big zero. Neither demonetisation could combat terrorism, nor black money nor aid to development of the country.By the devil act of demonetisation, the country has already lost its GDP worth nearly Rs.3 Lakh Crore," she said.

Wednesday will mark the first anniversary of the move made by Prime Minister Narendra Modi-led Central government.

Image: twitter.com/MamataOfficial

"From Day 1, I had protested against this draconian decision of demonetisation by the central government and requested for its immediate withdrawal. The Indian economy has been ruined; so has plummeted the growth rate of the country," she said.

Banerjee said: "8th November #Nov8BlackDay this year will be observed as “Kaala Dibas” (Black Day) to protest against demonetisation and the unparalleled damage it caused to the country and its economy."

The full statement of Chief Minister Mamata Banerjee as posted on her Facebook account is given below:

"The ill-famed #Noteban 8 November is approaching.

Demonetisation is a big scam. I repeat, demonetisation is a big scam. If thorough investigation is conducted, this will be proved.

Demonetisation was not to combat black money. It was only to convert black money into white money for vested interests of political party in power.

Black money became ‘white fund’ for them and the country was plunged into darkness.

No black money could yet be brought out from the foreign accounts.

In all practical sense, it yielded big, big zero.

Neither demonetisation could combat terrorism, nor black money nor aid to development of the country.

By the devil act of demonetisation, the country has already lost its GDP worth nearly Rs.3 Lakh Crore.

Crores of workers, particularly in the informal sector, lost their jobs.

Farmers were left to starve. Over 100 people lost their lives.

People had no access to their own money in banks, even in emergency.

The memories of untold sufferings and pain thrust upon the common people still haunt our minds.

From Day 1, I had protested against this draconian decision of demonetisation by the central government and requested for its immediate withdrawal.

The Indian economy has been ruined; so has plummeted the growth rate of the country.

The GDP fell to 6.1% growth in between January and March, 2017 compared to 9.1% in the previous year. It further plummeted to 5.7% between April and June, 2017, compared to 7.9% in the previous year.

More than 75,000 industrialists were compelled to leave India and settle abroad and become NRI because of harassment in the prevailing situation. Business potential worth lakhs and lakhs of crore in India was thus lost.

Demonetisation was a Black Decision worth every sort of condemnation.

8th November #Nov8BlackDay this year will be observed as “Kaala Dibas” (Black Day) to protest against demonetisation and the unparalleled damage it caused to the country and its economy.

We are for all the people who suffered and still continue to suffer.

Their fight is our fight and we are committed to stand by them."