Terming demonetisation as a ‘complete disaster’ for the country, All India Majlis-e-Ittehadul Muslimeen president and Hyderabad MP Asaduddin Owaisi said on Thursday that Prime Minister Narendra Modi’s ‘impulsive’ decision to curb black money was proving to be like the Hyderabadi proverb of “Chaarane kay bandar ko baraanay ki rassi”.

Reacting to the Reserve Bank of India’s report on demonetisation, the MIM leader said the government’s decision had pushed the country into distress and subsequently to losing two per cent of the GDP which came up to nearly Rs.6 lakh crore.

Owaisi further said the Modi government had first claimed that demonetisation would curtail black money and counterfeit currency but then they moved to other reasons by saying that their efforts were to control terrorism and naxalism. All these ‘efforts’ had failed miserably, he said.

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