Now Reading: Congress slams PM Modi on demonetisation 10th anniversary
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Congress slams PM Modi on demonetisation 10th anniversary
The Story in Brief
The Congress on Sunday, 8 November 2026, renewed its attack on Prime Minister Narendra Modi over demonetisation, calling the 2016 decision a disaster and alleging that 'votebandi' is now destroying the political system. Congress general secretary Jairam Ramesh posted on X: 'Notebandi devastated the economy. Votebandi is destroying the polity. Both are the contributions of the PM.' The party has consistently described demonetisation as a 'monumental blunder' that failed to achieve its stated objectives.
A Scroll analysis published on the 10th anniversary found that over 99.3% of the demonetised currency returned to the banking system, contradicting government expectations that a substantial portion would not. The analysis noted that India remains a cash-intensive economy despite the expansion of digital payments, with the currency-to-GDP ratio broadly stable at around 12.1% in 2025-26. It estimated an output loss of 1 to 2.5% of GDP during 2016-17 due to the exercise, with disproportionate impact on the informal sector.
Indian Opinion Analysis
All three outlets, The Hindu, National Herald and New Indian Express, lead with the Congress's attack and quote Jairam Ramesh's 'notebandi' and 'votebandi' remark identically, reflecting wire copy from PTI. National Herald adds the most substance by incorporating Scroll's anniversary analysis on the return of 99.3% of demonetised notes and the output loss estimates, giving readers an economic counterpoint to the political statement. The Hindu and New Indian Express confine themselves to the Congress's criticism without the Scroll findings, offering a narrower political frame. The balanced reading is that the coverage is uniform on the day's political event, with National Herald alone providing the economic data that the Congress uses to support its attack.
Coverage: 2 sources, 2 neutral
Sources (2): PTI (carried by thehindu.com, newindianexpress.com), nationalheraldindia.com (neutral report)
This brief was synthesised by AI from the 2 sources linked above, so one read covers every framing they carry. Methodology and corrections.
Update, 8 November 2026: this story now draws on 3 sources.
