Demonetisation weakened country’s economy: AAP

New Delhi, Dec 16 (IANS) The AAP on Friday said the demonetisation of high value currency had weakened the country’s economy.

Aam Aadmi Party leader Adarsh Shastri said the note ban had adversely hit businesses across the nation.

“Demonetisation has pushed the economy to a downward spiral. Indian markets witnessed a fall of 70-80 per cent post demonetisation,” he said.

“It has adversely affected trade. Jobs of around four crore employees in the organised sector and 36 crore in the unorganised sector have been affected.”

Shashtri, the AAP MLA from Dwarka, also said that the country was being “looted” in the name of cashless economy.

“By demonetising 86 per cent currency, they (central government) not only troubled the citizens but benefited the big companies in the business of digital payment.”

The government on November 8 banned Rs 1,000 and Rs 500 notes to curb black money, corruption and counterfeit currency. The move triggered cash chaos across the country.