Congress Challenges Government on Rising Counterfeit Currency

The Congress party on Friday criticized the government's claim that counterfeit notes have decreased, calling it an 'eyewash.' They allege counterfeiting has shifted to higher-value notes, questioning the efficacy of the 2016 demonetisation policy. Congress leader Jairam Ramesh highlighted the rising numbers of fake Rs 500 and Rs 2,000 notes.

The Congress party has vehemently contested the government's assertion that the prevalence of counterfeit notes has diminished. Labeling the claim as an 'eyewash,' Congress alleged that counterfeiting activities have merely transitioned to higher-value denominations.

In a scathing critique, Congress general secretary Jairam Ramesh questioned the achievements of the 2016 demonetisation exercise if neither black money nor counterfeiting has been effectively curbed. He cited a significant rise in fake Rs 500 and Rs 2,000 notes since the policy's implementation.

Ramesh referenced data from the Rajya Sabha and media reports, which indicated that the new series of Rs 500 and Rs 2,000 notes, introduced post-demonetisation, account for over half of the detected counterfeit currency. Ramesh challenged the government’s narrative amid admissions of widespread black money.