"BJP and Congress are like husband and wife. Each after one term of five years gives way for the other to rule," the Delhi Chief Minister told a gathering here.
He also needled Congress vice president Rahul Gandhi over his claim that he was having foolproof evidence of "personal corruption" by the Prime Minister that can cause an earthquake.
"Demonetisation has benefitted businessmen friends of the PM. The move has wrought havoc in the life of common people," Kejriwal alleged during his 30-minute speech, as he referred to "demonetisation" as a "scam worth Rs eight lakh crore".
"Demonetisation was also done to help the BJP as the party had deposited its money before the scrapping of old currency notes," he added.
He said if Modi really wants to end the scourge of corruption and black money, he should put the 648 people, mostly businessmen, who have stashed money in Swiss banks, in the jail.
Kejriwal said during his initial stint as Chief Minister, his government in 49 days had put behind bars 32 corrupt officers to end corruption in Delhi.