Supreme Court of India will Hear the Challenge To Demonetization On 2nd December 2016
To remind the Government and the Policy Makers that the Constitution and the right to justice is alive in India, the Supreme Court of India accepted the petition and will Hear Challenge To Demonetization On December 2, 2016.
It will be a double blow for the BJP Government after former Prime Minister Manmohan Singh‘s Speech in Parliament denouncing the government’s ban on 500 and 1000 rupee notes as a “monumental management failure”, he also warned that the move will drag down the country’s GDP growth by 2 per cent.
The Supreme Court will hear on December 2 the challenge to the constitutional validity of the demonetization decision and the inconvenience caused to the people due to it.
A bench of Chief Justice T.S. Thakur and Justice D.Y. Chandrachud initially said it would first hold a hearing on the inconvenience faced by the public and steps taken to address them.
It said that hearing on the validity of the note ban could take place later. The the apex court later agreed to hold hearing on both the aspects.
Earlier the former prime minister, who is also a noted economist warned “The GDP of the country will decline by about 2 per cent by what has been done. And this is an underestimate and not an overestimate.”
“What has been done can also weaken our people’s confidence in the currency and banking system,” added Dr Singh, a former chief of the Reserve Bank of India, stating that small businesses, farming and cooperative banking have been affected the most by demonetization.
Now the time has come when the people of India will hear a fruitful official debate on demonetization, so wait for December 2, 2016.
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