Rising KashmirRising KashmirRising Kashmir
  • Home
  • Top Stories
  • News
    • Kashmir
    • City
    • Jammu
    • Politics
  • Health
  • Anchor
  • Features
  • Interview
  • Video
Search

Archives

  • June 2025
  • May 2025
  • April 2025
  • March 2025
  • February 2025
  • January 2025
  • December 2024
  • November 2024
  • October 2024
  • September 2024
  • August 2024
  • July 2024
  • June 2024
  • May 2024
  • April 2024
  • March 2024
  • February 2024
  • January 2024
  • December 2023
  • November 2023
  • October 2023
  • September 2023
  • August 2023
  • July 2023
  • June 2023
  • May 2023
  • April 2023
  • March 2023
  • February 2023
  • January 2023
  • December 2022
  • November 2022
  • October 2022
  • September 2022
  • August 2022
  • July 2022
  • June 2022
  • May 2022

Categories

  • Anchor
  • Breaking
  • Business
  • City
  • Developing Story
  • Editorial
  • Education
  • Features
  • Health
  • Interview
  • Jammu
  • Jammu and Kashmir News
  • Kashmir
  • Kashmir Tourism
  • Kath Bath
  • National
  • Opinion
  • Politics
  • Sports
  • Technology
  • Top Stories
  • Trending
  • Uncategorized
  • Video
  • Viewpoint
  • World
© 2022 Foxiz News Network. Ruby Design Company. All Rights Reserved.
Reading: Economy still not recovered from shock of demonetisation: Congress
Share
Notification Show More
Font ResizerAa
Rising KashmirRising Kashmir
Font ResizerAa
  • Home
  • Top Stories
  • News
  • Health
  • Anchor
  • Features
  • Interview
  • Video
Search
  • Home
  • Top Stories
  • News
    • Kashmir
    • City
    • Jammu
    • Politics
  • Health
  • Anchor
  • Features
  • Interview
  • Video
Follow US
© 2024. All Rights Reserved.
Rising Kashmir > Blog > Politics > Economy still not recovered from shock of demonetisation: Congress
Politics

Economy still not recovered from shock of demonetisation: Congress

RK News
Last updated: May 31, 2025 1:54 am
RK News
Published: May 31, 2025
Share
3 Min Read
SHARE

New Delhi, May 30: The demonisation announcement made by Prime Minister Narendra Modi was the “first major blow to the economy,” with the economy not recovering from the shock till date, said Congress leader and party’s General Secretary in-charge of Communications, Jairam Ramesh on Friday.
Ramesh further said with 98.24 pc of Rs 2000 notes being returned to Reserve Bank of India (RBI), which were introduced at the same time of demonisation, has proven that the whole “experiment” was a futile exercise.
Criticising the demonisation policy in a post on X, Ramesh posted, “The demonetisation announcement made with much fanfare by the Prime Minister on the night of 8 November 2016 was the first major blow to our economy – and the economy has not fully recovered from this shock till date.”
Talking about the introduction, and the subsequent withdrawal of the Rs 2000 notes from circulation, Ramesh’s post added, “2000 rupee notes were introduced at the same time, in November 2016. But just as they were introduced suddenly, the announcement of demonetization of these notes on 30 September 2023 was also made suddenly. So far 98.24% of such notes have been deposited back to RBI. This clearly proves how futile and futile this entire experiment was.”
Calling back the claim that demonisation will “end fake currency,” Ramesh said that there has been a 37 pc increase in fake 500 rupee notes in 2023, highlighting an article which quoted RBI’s annual report 2024-25.
On November 8, 2016, the 500 and 1000 rupee notes were demonetised overnight, and new Rs 2000 notes were issued.
“Government of India vide their Notification no. 2652 dated November 8, 2016 have withdrawn the Legal Tender status of Rs 500 and Rs 1,000 denominations of banknotes of the Mahatma Gandhi Series issued by the Reserve Bank of India till November 8, 2016,” the RBI said in a press release in 2016.
The decision was taken in order to tackle fake currency, nullify black money, and curb the funding of terrorism.
ANI

‘If INDI alliance wants to accept servitude of their vote bank, perform mujra’: PM Modi
Bilal Gani Lone likely to join mainstream politics
RLD to commemorate Ch Charan Singh’s birthday with weeklong celebrations in J&K
DoPT incentives for employees in Kashmir valley to continue: Dr Jitendra
Dr Jitendra proposes upskilling medicos with AI, Quantum, newer technologies

Sign Up For Daily Newsletter

Be keep up! Get the latest breaking news delivered straight to your inbox.
By signing up, you agree to our Terms of Use and acknowledge the data practices in our Privacy Policy. You may unsubscribe at any time.
Share This Article
Facebook Whatsapp Whatsapp Copy Link Print
Previous Article DC G’bl emphasises seamless arrangements for Mela Kheer Bhawani
Next Article MLA Ramgarh announces road connectivity to historic Bamu Temple
Leave a Comment Leave a Comment

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

Stay Connected

1MFollowersLike
262kFollowersFollow
InstagramFollow
234kSubscribersSubscribe
Google NewsFollow

Latest News

National Mission on Saffron : Registrations for rejuvenation of left-out land begins in Pampore
Kashmir
June 23, 2025
Sharma launches plantation drive, emphasises on ecological balance
Jammu
June 23, 2025
SANJY-2025: Secy health reviews medical facilities along Pahalgam route
Kashmir
June 23, 2025
Tata Motors Shubhranshu Singh makes it to Forbes world’s most influential CMO list
City
June 23, 2025

Recent Posts

  • National Mission on Saffron : Registrations for rejuvenation of left-out land begins in Pampore
  • Sharma launches plantation drive, emphasises on ecological balance
  • SANJY-2025: Secy health reviews medical facilities along Pahalgam route
  • Tata Motors Shubhranshu Singh makes it to Forbes world’s most influential CMO list
  • DC Budgam reviews implementation of PM Surya Ghar Muft Bijli Yojana

Recent Comments

  1. Shah on Relief for Employees: J&K Bank Fixes EMI-Credit Mismatch, says JK Bank Chairman
  2. Latif khan on Why Kashmir needs Stronger Private Healthcare and Health Insurance
  3. Sameer farooq mir on Qazi Irfan assumes charge as RTO Kashmir
  4. Captain Vikrama on CM Omar Abdullah hails historic feat as three Kashmiri Girls crack IIT-JEE Advanced
  5. BASHIR AHMAD BHAT on Poor hotel accommodation, lack of medical facilities irk Kashmiri pilgrims in Saudi Arabia, video goes viral

Contact Us

Flat No 7,Press Enclave, Srinagar, 190001
0194 2477887
9971795706
[email protected]
[email protected]

Quick Link

  • E-Paper
  • About Us
  • Contact Us

Top Categories

Stay Connected

1.06MLike
262.5kFollow
InstagramFollow
234.3kSubscribe
WhatsAppFollow
Rising KashmirRising Kashmir
Follow US
© 2025. All Rights Reserved.
Welcome Back!

Sign in to your account

Username or Email Address
Password

Lost your password?