Demonetisation verdict: Majority has not supported decision's wisdom, says P Chidambaram
Former Finance Minister P Chidambaram said, "We are happy that the minority decision has highlighted the illegality and irregularities in the demonetisation. It may only be a slap on the government's wrist, but it's a welcome slap on the wrist."
FollowIn the 4:1 majority verdict on Monday, the Supreme Court upheld the government's 2016 decision to demonetise Rs 1000 and Rs 500 notes, saying that the decision-making process was not flawed.
In matters of economic policy, there must be great restraint, and the court cannot supplant the wisdom of the executive through judicial review of its decision, said a five-judge Constitution bench of the Supreme Court, led by Justice S A Nazeer.
Former Union Finance Minister P Chidambaram accepted the Supreme Court's judgment and said that the majority verdict had steered clear of whether the objectives of the demonetisation exercise were met at all.
After Supreme Court's decision, Chidambaram said that the 'minority' judgment pointed out the 'illegality' and the 'irregularities' in the demonetisation on Monday, December 2, 2023.
Reacting to the apex court's decision, the Congress leader tweeted, "Once the Hon'ble Supreme Court has declared the law, we are obliged to accept it. However, it's important to point out that the majority has not supported the decision's wisdom, nor has the majority concluded that the stated objective was met."
"In fact, the majority has avoided the question of whether the objectives were met at all," he added.
Chidambaram continued, "We are happy that the minority decision has highlighted the illegality and irregularities in the demonetisation. It may only be a slap on the government's wrist, but it's a welcome slap on the wrist."
Additionally, he noted that the dissenting judgment would go down in history as one of the most famous dissents.
Earlier today, the Supreme Court upheld the government's 2016 decision to demonetise Rs 1000 and Rs 500 notes, ruling that the decision-making process was correct.
(With inputs from PTI)
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