Mangaluru: “BJP is investing its black money in real estate. Demonetisation is the biggest scam ever India has seen. A week prior to the demonetisation more than 100 acres of land in each state was purchased by the BJP leaders. Documents of these purchases has been released by AICC on November 25 officially,” said All India Congress Committee Spokesperson P C Chacko.

Addressing the press personnel at district Congress office on Saturday, he said that demonetisation has made a fast developing nation to sit on its knees. Economy of India is now equal to that of India. Struggling of public to exchange and withdraw their money shows the unpreparedness and thoughtlessness of the government.

“Terrorism is funded by foreign countries; they use the currency notes of other countries not of India. There is nothing to do with the demonetisation and funding of terrorism. Other two propagandas of the demonetisation were washing out black money and stopping the circulation of fake currency. Survey have confirmed that the circulation of fake currency is only 0.025 percent that of original currency,” he said.

He further said that only the six percent of the black money exist here in India. Rest of the money has been invested in real estate, foreign currencies, foreign accounts and other ways. Demonetisation will not impact on black money, as it doesn’t affect the origin of the black money.

“RBI needs minimum three and half months of time to print the new Rs 2000 crore notes to equalise the demonetised Rs 1000 notes and more than 8 months to equalise the demonetised Rs 500 notes. Banks are running out of cash, ATMs are not functioning in the country. In a country of 125 crore population only 2 lakh ATMs are present. ATMs need another 90 days to recalibrate to the new currency notes. In general demonetisation has affected the economy of the country as well as the routine life of the public,” he added.

MLA J R Lobo, MLC Ivan D’Souza, Interim Congress President Ibrahim Kodijal and others were present.