Parliamentary Panel Report Critical of Demonetisation Could be Tabled in Winter Session

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Parliamentary Panel Report Critical of Demonetisation Could be Tabled in Winter Session

New Delhi, Oct 15: The Parliamentary panel on finance headed by Congress MP Veerappa Moily will reportedly present its report on demonetisation in the Winter Session of Parliament. The standing committee  of which former Prime Minister Manmohan Singh is also member, had been looking into the issue of demonetisation since long. As per the latest reports of PTI, the panel had also […]

New Delhi, Oct 15: The Parliamentary panel on finance headed by Congress MP Veerappa Moily will reportedly present its report on demonetisation in the Winter Session of Parliament. The standing committee  of which former Prime Minister Manmohan Singh is also member, had been looking into the issue of demonetisation since long. As per the latest reports of PTI, the panel had also called RBI governor Urjit Patel and top officials of the Finance Ministry to look into the issue.

Talking to the news agency, a member of the panel  said that a draft of the report was prepared and circulated in previous tenure of the panel, but now the committee has been reconstituted so it will again be circulated. The report is overall critical of the demonetisation decision and is set to be tabled in the next session of Parliament, another member asserted.

In an unprecedented move, Prime Minister Narendra Modi on November 8 last year, banned old Rs 500 and Rs 1,000 notes in an attempt to weed out black money in the country.

The old notes were allowed to be deposited in banks, with unusual deposits coming under income tax scrutiny. In its annual report for 2016-17, the RBI had disclosed that all but about 1 per cent of the scrapped currency notes have come back into the system.

(With inputs from agencies)