Former Finance Minister and senior Congress leader P. Chidambaram on Wednesday said the government's decision to demonetize 500 and 1, 000 rupee notes and introduce 2, 000 rupee notes was a "puzzle".
"They demonetized 500 and 1, 000 rupee notes and introduced Rs 2, 000.
It seems to be a puzzle.
Let the puzzle be unravelled by the government, " Chidambaram said, briefing mediapersons.
"If the government was introducing a 2, 000 rupee note by itself that would be a different matter.
What I don't understand is that they demonetized 500 and 1, 000 rupees and introduced 2, 000.
I am not able to understand why.
Maybe it's my inadequacy, " he added.
Chidambaram said: "If they give a good answer maybe we'll be convinced. "
"I have spoken to a few people, even they are unable to understand why they demonetized 500 and 1, 000 rupees and introduced Rs 2, 000, " he said.
Chidambaram asked a few questions in this regard, saying: "How will this move help in preventing the generation of black money?
If new income or wealth is unaccounted, will not that income or wealth be hidden in the Rs 2, 000 notes?"
"How is demonetization of high denomination notes served if a new and higher denomination note is introduced?
Government must explain this apparent puzzle, " asked Chidambaram.