Supreme Court verdict on demonetisation hailed

BJP has hailed the Supreme Court’s decision to uphold the policy of demonetisation saying that the Apex court had accepted that the government’s decision of 2016 had been within the ambit of the law.

Addressing the media at a press conference at the BJP’s national headquarters in New Delhi, after the verdict, former Law Minister Ravi Shankar Prasad, said that “the Supreme Court by a majority judgment found the entire decision-making process to be fair and reasonable. The Apex court said that the government has got the right and discretion to undertake economic policy decisions. Even the judge who gave dissenting judgement said that the policy was well-intentioned.”

The Supreme Court in a 4:1 majority verdict on Monday upheld the government’s 2016 decision to demonetise the ₹1,000 and ₹500 denomination notes, saying the decision-making process was not flawed.

There has to be great restraint in matters of economic policy and the court cannot supplant the wisdom of the executive by a judicial review of its decision, a five-judge Constitution Bench of the apex court, headed by Justice S. A. Nazeer, had said.

Prasad asserted that the exercise of demonetisation was done for various valid cases namely removing fake currency, countering terror-funding, black marketing, etc.

Hitting out at the Opposition, Prasad claimed that the Congress stirred a storm when demonetisation was implemented. “Rahul Gandhi used to speak regarding this in foreign countries. The motive behind demonetisation was ‘ Gareeb Kalyan’.

The BJP was very firm in espousing the great commitment of Prime Minister Modi that this (demonetisation) is designed to subserve the interest of the poor and to bring cleanness to our economy,” he said.

Further, he avered that India saw its transformation into Digital India.