Summary: Indian Congress party demands an apology from Prime Minister Modi for the 2016 demonetization, citing the negative impact on small and medium businesses and the informal sector.
The Indian Congress party has asked for an apology from Prime Minister Narendra Modi over the demonetization of INR 500 and INR 1,000 currency notes in 2016.
The Congress party believes that the demonetization, which was upheld by a 4-1 majority in the Supreme Court, damaged small and medium businesses and the informal sector in India.
Congress leader Jairam Ramesh said the decision did not achieve its goals of reducing currency in circulation, moving to a cashless economy, curbing counterfeit currency, ending terrorism, and uncovering black money.
However, Justice BR Gavai, who read out the majority verdict of the Supreme Court, argued that the demonetization did not have any legal or procedural flaws.
On the other hand, justice BV Nagarathna, who wrote the dissenting judgment, said that the demonetization was unlawful and violated legal and procedural norms.