Demonetisation self inflicted wound on Indian economy: Youth Congress

The Youth Congress activists on Friday staged a demonstration outside Reserve Bank of India (RBI) office here, slamming the Modi government for implementing demonetization on the third anniversary of the move. On November 8, 2016, Prime Minister Narendra Modi announced to the nation that Rs 500 and Rs 1,000 currency notes would cease to be a legal tender.

The protesters raised slogans, carrying placards and flags of Indian Youth Congress (IYC) were stopped a few metres away from RBI building on Parliament Street by Delhi Police personnel. "The protest is to seek an apology from the Modi government for implementing demonetization which was a self-inflicted wound on the Indian economy, " IYC president Srinivas B V said.

He said even after three years, the economy has not been able to recover from the "demonetization blow". The youth wing of Congress is observing 'black day' on the third anniversary of demonetization across the country, said Amrish Ranjan Pandey, IYC's national media in-charge.

The Prime minister should at least apologize to the families of people "who passed away due to hardships caused by demonetization", Pandey said.