A petition filed against the Centre's move to demonetize ₹500 and ₹1000 notes accuses Prime Minister Narendra Modi of "economic terrorism."
"The PM's announcement has come to thwart away the black money, fake currency and terrorism; but at the same time, this economic crisis created at the cost of lives of 1.25 billion Indians, cannot be termed less than 'economic terrorism' in the lives of aam aadmi," said the petition filed in the Bombay High Court.
The banning of ₹500 and ₹1000 notes in order to curb tax evasion, black money and corruption has disrupted the lives of many people, this week. There are those who are facing problems carrying out day-to-day transactions, while some have been forced to postpone their weddings. Tourists are another badly hit group.
While announcing the ban on ₹500 and ₹1000 notes, Modi said that people would have to make sacrifices if the country had to crack down on corruption. President Pranab Mukherjee, who has backed the demonetization plan, asked people bear the short-term inconveniences for long-term benefits to the economy.
Most of the criticism levelled against the Modi government over the demonetization policy has been about the problems faced by the public, but some have also questioned its timing and efficacy. All over the country today, people cued up in front of banks to get their old notes exchanged for the new ₹500 and ₹2000 being issued by the Reserve Bank of India.
Two advocates Jamshed Mistry and Jabbar Shaikh have moved the Bombay High Court to take suo moto cognisance of the ban, arguing that it was illegal, The Times of India reported today. "The last time government banned high value notes in 1978, it came out with an ordinance and ... an Act," Mistry told ToI.
Meanwhile, a Delhi-based lawyer has moved the Supreme Court against the government's decision to "immediately discontinue" the ₹500 and ₹1000 notes, arguing that it hasn't left any time for people to organise their lives.
The petition filed by Supreme Court advocate Sangam Lal Pandey described the demonetization order as a "Tughlaki Farman."
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