New Delhi: The abrupt ban on 500 and 1000 rupee notes announced by Prime Minister Narendra Modi as the biggest cleanliness drive has been lauded by many as a great initiative taken by the NDA government. However, many are sceptical about the government’s claim and have gone far in slamming this move which has been called ‘anti-people’.

One of the strongest proponents of this view is Delhi Chief Minister and Aam Aadmi Party leader Arvind Kejriwal who censured the government’s move as the biggest scam ever to have hit the country.

The popularly-unfavoured leader said ban on currency will not affect black money because:

1. Currency will be redistributed as the introduction of new money will only change hands.

2. 200% penalty on massive taxable income will drive away the big money hoarders who will look for other options to distribute the black money somewhere else.

3. The value of dollar has increased double fold in the last few days, mainly because black money hoarders are buying dollars to save the major portion of their money even if they have to buy dollar at a loss.

4. Ten grams of gold are being sold at Rs 60,000 in jewellery shops. The generated income of Rs 500 and Rs 1000 will then be sold in the market in exchange for Rs 2000 notes through dalals.

5. There is a rise in the purchase of real estate properties which has lead to the prices of properties increasing double fold.



Arvind Kejriwal also claimed that the government had already informed their ‘friends’ about the impending move so that deposits could be made at the earliest.