Follow Us:

No guarantee that new currency will end black money: Chidambaram

SNS | New Delhi |

As the deadline for depositing the demonetised notes has come to an end, former finance minister P Chidambaram on Friday raised questions about its effect and said there is no guarantee that black money will not be found and bribes will not be taken in new currency notes.

“There is no guarantee that black money will not be found and bribes will not be taken in new currency notes,” Chidabaram tweeted.

Talking about seizure of new notes at various places, Chidabaram said “Seizure of new notes shows corruption at RBI, currency chests & banks. Demonetisation is mismanagemnet & administartive collapse”.

“There is a mistake in assuming that people who are patient are not angry,” he said, adding, “Increase in tax revenues has no direct correlation with the performance in GDP.”

The Union government had on November 8 announced the demonetisation move with the aim to curb black money. The last date of depositing old currency notes in the banks is December 30.