Addressing the gathering at Jantar Mantar, Banerjee alleged that abolition of high-value currency notes had heaped pain on people and snatched away democratic rights of almost every section of the society including farmers, youth, women, labourers and traders, besides halting the country's economic growth.
Accusing the BJP-led dispensation of "looting" the common man, she wondered why those having Swiss bank accounts were "not touched at all", and warned that people will teach a "good lesson" to the ruling party in the upcoming assembly polls for implementing a "black law".
In his address, JD-U leader Sharad Yadav questioned the legality of the demonetisation exercise and challenged the Prime Minister to explain to the Parliament how the decision will benefit the country.
"Under which law have you enforced this measure? You are stopping a person from withdrawing his hard-earned money which is his fundamental right. Demonetisation has destroyed the business of small traders. Come to Parliament and explain the logic as to how it will curb black money," Yadav said.
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The street protest was also addressed by SP's Dharmendra Yadav, AAP's Raghav Chadha and NCP's Majid Memon.
The West Bengal Chief Minister also lashed out at a group of people who were shouting pro-Modi slogans, alleging that they were sent to disrupt her public meeting and wondered what the police and administration were doing.
Referring to yesterday's bypoll results, the TMC chief said BJP's victory margins have come down significantly in Madhya Pradesh and that Modi has left the country in the lurch (Modiji ne desh ka barah baja diya)."
Banerjee said the government has lost all "credentials
and credibility" and that because of demonetisation, the GDP may decline sharply.
"This government will have to go...I am sorry to say, the country is not secure under you Modiji. You do things on your whims and fancies," she said.
Without elaborating, she also alleged that the demonetisation measure has brought back the pre-Independence feudal system in the country as people are struggling to get cash.
"Almost all shops have downed shutters. Even malls have closed down. Our economy had improved and we survived the global recession. But because of demonetisation, our GDP will go down. The economy has been hit badly," she said.
The West Bengal Chief Minister said her fight against demonetisation was not to gain political mileage as there was no election scheduled in West Bengal and that she decided to hit the streets seeing plight of the common man.
Asserting that she will continue to fight for the common citizens, Banerjee said, "I am not afraid of any government. You put me in jail, I will not get scared. My struggle will continue."
Alleging that people were sent to disrupt her protest, she said in democracy everyone has right to agitate, adding "this soil doesn't belong to BJP party, but to this country."