Union Information and Broadcasting Minister Venkaiah Naidu on Thursday implied that the demonetisation pain was set to last beyond the 50 days target, famously promised by Prime Minister Narendra Modi.
The deadline comes to an end on 30 December (Friday).
Naidu told India Today, “..Do not depend on one individual, one decision or one agency. We have Reserve Bank, we have banks, we have the problem of transportation. We have a problem of distribution, problem of working of ATMs, then problem of some people trying to hoard money then try to convert also earlier. All these things have come to our notice. But I am sure by the middle of January things will be almost normal.”
— India Today (@IndiaToday) December 29, 2016
So, according to Naidu, the situation relating to prevalent financial mess will only be ‘almost normal’ by middle of January even though the prime minister had promised to ensure complete normalcy by 30 December.
This has already evoked angry reaction from the Congress party, whose spokesperson, Sanjay Jha, said that the comments made by Naidu was a stunning disclosure of failure by Modi.
He said, “Naidu has made a stunning disclosure on your channel. Mr Modi’s much-hyped claim that mujhe 50 din de dijiye aur samasya ka samaadhan mil jaayega has definitely proved to be a fictitious claim. So I think the prime minister is going to have a serious credibility crisis beginning next 48 hours. I agree people of India are very simple, innocent and trusting, but when you take them for granted they are sharp enough to teach you a lesson.”
Modi, on 8 November, had shocked the nation by announcing a ban on the 86% currency in use in the market. This he had argued was to curb black money. However, by the own admission of the RBI, India’s federal bank, close to 90% of the banned currency notes have already returned in the system.
Meanwhile, more than 100 people have already succumbed to demonetisation related stress while millions continue to have no access to their own hard-earned money deposited in banks.