On January 2, a Supreme Court constitution bench ruled on demonetisation.
The Supreme Court constitution bench on January 2 ruled on the legality of the government’s demonetisation policy. The bench, headed by Chief Justice of India Dipak Misra, was divided 3:2 on the issue. Justices D.Y. Chandrachud and Sanjay Kishan Kaul were in favour of the policy, while justices A.K. Sikri and Ashok Bhushan were against it.
The policy, which was announced by Prime Minister Narendra Modi on November 8, 2016, had led to the withdrawal of Rs. 500 and Rs. 1,000 notes from circulation. The government had claimed that the policy was aimed at curbing black money, counterfeit currency and terror funding.
However, the opposition had termed the policy as “draconian” and “unconstitutional”. They argued that the policy had caused immense hardship to the common man and led to the death of over 100 people.
The Supreme Court’s ruling means that the policy is now legal and can be implemented by the government.
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