NewDelhi: The BJP on Monday hailed the Supreme Court judgment upholding the Narendra Modi government’s demonetisation exercise as “historic” and slammed the Congress for running a campaign against the decision and asked if its leader Rahul Gandhi will “tender an apology after the verdict.” The reaction from the ruling party came minutes after the Supreme Court, in a 4:1 majority verdict, upheld the government’s 2016 decision to demonetise Rs 1,000 and Rs 500 denomination notes, saying “the decision-making process was not flawed.” However, one of the judges disagreed with the move, calling it “unlawful”.
Reacting to the SC verdict, former law minister and BJP leader Ravi Shankar Prasad asserted that the demonetisation done in 2016 proved to be the “biggest blow” to terrorism by curbing terror funding. “It boosted income tax and cleansed the economy,” he claimed while addressing a press conference in the national capital.
“It is a historic decision and is in the national interest. The Supreme Court has held a decision taken in the national interest valid. Will Rahul Gandhi now say sorry for his campaign against demonetisation? He spoke against it even abroad,” he said at the press conference.
Prasad also hit out at Congress leaders, especially former Union finance minister P Chidambaram, for highlighting the minority judgment. They are ignoring with impunity the majority verdict to make uncharitable and scandalous statements, he said, slamming Chidambaram.
India has become a global leader in digital payment which was boosted after demonetisation, he told reporters, noting that the country notched up over 730 crore digital transactions worth over Rs 12 lakh crore in October this year alone. The dissenting judge has also said the policy was well-intentioned, Prasad added.
A five-judge Constitution bench of the apex court, headed by Justice S A Nazeer, said 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 constitution bench said the central government’s November 8, 2016 order to ban Rs 1,000 and RS 500 currency notes are valid and the decision-making process could not be faulted just because the Centre initiated the move. In a strong dissenting judgment, Justice BV Nagarathna called the notes ban initiated by the Centre “vitiated and unlawful” but said the status quo could not be restored now. The move could have been executed through an act of Parliament, said the judge.
Shortly after the SC verdict, Congress hit out at the Narendra Modi government saying that the ”dissenting order is a welcome slap on the wrist of the Centre.” The Congress also said it’s wrong to say that the SC upheld the note ban order as the verdict does not deal with the outcomes of the currency ban move. “Once the Hon’ble Supreme Court has declared the law, we are obliged to accept it. However, it is necessary to point out that the majority has not upheld the wisdom of the decision; nor has the majority concluded that the stated objectives were achieved. In fact, the majority has steered clear of the question of whether the objectives were achieved at all,” said Rajya Sabha MP P Chidambaram.
Bureau Report
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