Itanagar, Nov 8: The Arunachal Pradesh Congress Committee (APCC) on Saturday marked November 8 as Black Day in India’s Economic History, observing the ninth anniversary of the demonetisation decision implemented by the BJP-led Central Government in 2016.
In a statement, APCC president Bosiram Siram said that the move to invalidate 86 percent of India’s currency was taken “without consultation, planning, or compassion for the people,” leading to economic disruption, hardship, and distress across the nation.
The APCC described demonetisation as a “historic policy failure”, stating that the government’s stated objectives — eradicating black money, ending corruption, curbing terror financing, and eliminating fake currency — were never achieved. The party cited data indicating that 99.3% of the demonetised currency returned to the banking system, while counterfeit notes resurfaced in new denominations.
The statement further claimed that the poor, farmers, daily wage earners, and small traders bore the brunt of the decision, with job losses, market collapse, and economic uncertainty following in its wake.
Calling upon the government to release a ‘white paper’ on demonetisation and disclose who benefited from the decision, the APCC urged citizens across Arunachal Pradesh to observe November 8 as Black Day in remembrance of those affected and to reaffirm the need for economic justice and accountability.