The government justified the suddenness of demonetisation and its resort to a Gazette Notification rather than an ordinance on grounds of secrecy. Given that the parliament was in session from November 16 to December 16, 2016, could a Bill not have been brought in during the session? This would have enabled the people’s representatives to discuss this draconian move and maybe suggest modifications. Instead, the entire session was disturbed because the government did not provide answers. https://thewire.in/economy/demonetisation-government-affidavit-supreme-court 

It seems that the entire intent was to bypass Parliament on this important policy move.

Since literally all the demonetised currency notes returned to the banks, what purpose was served? If there were black cash hoards, they got converted to new currency notes and became legitimate. In fact, new black incomes were generated for the conversion of the old notes into new ones. And, if the high denomination notes are to be blamed for black income generation then why issue the even bigger Rs 2,000 denomination notes?

When it became clear that cash was coming into the banks rapidly and getting exchanged to new notes, the goalpost was shifted within two weeks, from control of black economy to making the economy cashless. Did this lead to a lowering of the cash-to-GDP ratio in the economy? Instead, it is now higher than it was in 2016. And that too when electronic transactions have grown rapidly. Clearly, more cash is being held now than in 2016.

Another criticism is that wiping out 86% of the country’s currency overnight caused harassment and loss of work for a large number of people, especially in the unorganised sector, including agriculture. Does this constitute a violation of the fundamental right under Article 19(1)(g) of the Constitution, allowing any citizen to practice any profession? It is not that the move impacted only those with black money – in fact, they seemed to have gotten off scot free.

by Arun Kumar

21/11/2022

नोटबंदी पर मोदी सरकार ने सुप्रीम कोर्ट में झूठ बोला ? Abhisar Sharma calls out https://www.youtube.com/watch?v=gFhhMQWvilI refers to an RTI reply on RBI's involvement in the Demonetisation move.

Arguments in the SC. https://www.youtube.com/watch?v=w_-oMsyEumU

https://www.youtube.com/watch?v=QeUyT3bvTB4 #Demonetisation नोटबंदी पर मोदी सरकार का बड़ा झूठ बेनकाब_Modi exposed over Demonetisation in SC

What RBI told Modi about demonetisation and how it turned out to be true | THE MONEY TRAIL https://www.youtube.com/watch?v=SjOT3CE81vs  Nov 23, 2022
The Union Government has always shied away from talking about demonetisation. But last week they were forced to, as the Supreme Court is hearing the petition against demonetisation. The Union Government in its affidavit has made tall but baseless claims. It also shifted the responsibility of Demo to RBI claiming that even the idea came from them! For umpteen number of times it has been proved by economists that the impact of Demo was devastating. For one more time we are doing it. This time with what RBI told the Union Government about the maverick act before it's implementation.