"Digital transactions and electronic mode of payment would not be relevant when more than 70 percent of the people were living in rural areas without basic infrastructure," he told reporters here.
"Prime Minister Narendra Modi and Union Finance Minister Arun Jaitley are living in the dream world resorting to demonetisation and giving directions to people to adopt digital transactions," Narayanasamy said.
Terming the demonetisation move as a "badly conceived initiative," Congress Rajya sabha MP M V Rajeev Gowda said, the move has caused monumental disaster to the country's economy with cascading effect on industrial sector and affecting employment opportunities of the youth.
Claiming that farmers, women, youths and the poorer sections were the worst hit by demonetisation, the Congress MP from Karnataka said, "We gave the Prime Minister fifty days. But he has not restored the currency notes in the banks."
"He should acknowledge his failure and it is a monumental tragedy that he has caused havoc to the economy by his demonetisation move," he added.
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