Last year, BJP MPs rejected the report, which reportedly says demonetisation failed to achieve its objectives of of curbing black money, terrorism.
New Delhi: The political battle over demonetisation is set to escalate in the coming weeks, with the chairman of the parliamentary standing committee on finance, Congress MP Veerappa Moily, preparing to revive a draft report that faulted the Modi government’s decision.
The draft report had been rejected by BJP MPs on the committee last year, preventing it from being adopted. It reportedly says that demonetisation failed to achieve its stated objectives of curbing black money, terrorism and counterfeit currency.
Adoption of a report questioning the impact of demonetisation by a parliamentary committee could be projected by the opposition parties as a vindication of their stand against the NDA government’s move. It may put the ruling party on the back foot in an election year.
Also read: Bhutan was so scarred by Modi’s demonetisation it is still scared of Indian rupee
Moily, his close aides said, has decided to convene a meeting of the committee shortly after the end of the Monsoon session of Parliament on 10 August, to re-visit the draft report rejected by ruling party MPs.
“The RBI governor, finance ministry officials and other stakeholders, in their depositions to the committee, failed to provide any evidence to suggest that demonetisation achieved what the Prime Minister said it would. The report is drafted on the basis of their submissions,” said a Congress MP who is a member of the committee.
Will never allow it: BJP MPs
The BJP MPs on the committee told ThePrint that they would “never allow” a report that criticises the government’s demonetisation decision.
“How can we allow the adoption of such a parliamentary committee report, which will then be tabled in Parliament?” said a BJP MP.
Ruling party members of the committee have already sent a signed letter to Moily, conveying their strong reservations against the report.
“We are in a majority in the committee. So, our opinion can’t go as dissent notes. The report has to reflect the majority view and those who have a different view can give their dissent notes,” said another BJP MP.
During his deposition to the committee in June, Reserve Bank of India governor Urjit Patel had been asked about the total value of demonetised notes that had returned to the banks post the move. He informed the committee that the counting of demonetised notes that were in circulation in Nepal and Bhutan was still in progress.
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The demonetisation of Rs 500 and Rs 1000 notes, announced by Prime Minister Narendra Modi in November 2016, has been a matter of intense political debate. The opposition parties have been critical of the move questioning its motive and impact on the economy and citing the hardships faced by the common man.
The BJP, however, showcased it as a move against black money and built a poor-versus-rich narrative that appeared to have benefited it in assembly elections last year. The perception in the opposition camp is that the narrative is now unravelling.
Prof PK Sharma, Freelance Journalist, Barnala(Punjab)
Mr.Veerappa Moily , Chairman of Parliamentary Committe on Finance should not have taken this sensitive decision of Demonetisation
so lightly and casually because this decision had far-reaching ramifications for the people of India !
More than one hundred innocent persons lost their lives, masses subjected to undue hardships, difficulties and woes for no fault of their own ! The small businessmen and professionals were rendered unemployed in various parts of the country !
PM Modi must take the blame and onus on himself for this ill-conceived,ill-planned and ill-executed decision ! The way he himself
declared this ill-fated decision on TV channels just to win applause on November 8, 2016 night, he must now muster courage too to seek forgiveness from public publically for this anti-public decision ending in futility !
During the debate on No-Confidence Motion in Lok Sabha sometime ago, the Congress Chief Rahul Gandhi must have exposed NaMo
on the Demonetisation more thread bare on the floor of the Lok Sabha ! This serious matter could have drawn the attention of the MPs of both the lower and upper houses of parliament and public when the parliament session is now in progress !
Mr. Moily as Chairman of the Parliamentary Committee on Finance should not leave any stone unturned to expose the acts of omission
and commission and the entire truth must be revealed in public domain at the earliest !
Even if BJP MPs in the committee do not cooperate and try their level best to hanky panky and hush up this matter, their real character and the stark truth must be brought to the fore and light on record ! They will not be able to brush the truth under the
carpet and for how long ?
Now it is Mr.Moily’s duty and responsibility to get the needful done promptly reviving the draft report faulting NaMo
for his immature and wicked decision making the facts crystal clear to the countrymen !
Prof PK Sharma, Freelance Journalist
Pom Anm Nest,Barnala(Punjab)
Except for the RBI, which is still laboriously counting the currency notes, demonetisation is now done and over with. No point blowing into those embers. What few could have foreseen was how enduring its effects would prove to be. They are still with us. So, if the opposition has a case to present on the economy, a lot of the credit goes to this measure.