Taking on the Modi government on the eve of Winter Session of Parliament, he said many economists including former Prime Minister Manmohan Singh had found the decision to withdraw the high-value tenders to be without rationale.
The government did not seem to be going after the "big players" in black money like Vijay Mallya and Lalit Modi, he said.
He also claimed that BJP members were alerted beforehand about the demonetisation.
"How can one explain the BJP people in West Bengal depositing crores in high-denomination notes just before PM's announcement on November 8?" he asked.
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"BJP workers were seen holding up bundles of the new Rs 2,000 notes, as seen from images on the Internet, before Modi announced this decision," Rahul told reporters in suburban Bandra.
"The PM took decision without thinking. We don't want to reverse it, but at least resolve the difficulties people are facing," he said.
"The move will have serious repercussions on financial situation. I spoke to many economists including Manmohan Singh-ji and they said it had no economic rationale but an opportunistic decision based on political calculations."
"The entire Opposition is united against Modi government's
demonetisation move which has resulted in massive inconvenience for people," Rahul said.
"The real black money players like Vijay Mallya and Lalit Modi are out of the country. The big players are going scot free," he said.
"Go after the big players in black money. I don't see that happening. We cannot let farmers and labourers stand in queues for months," he said.
Asked about his own visit to a bank to exchange old notes, Rahul said, "My sense was to be with the people in their hardship and be with them."
(Reopens BOM 34)
Asked to comment on Modi's mother standing in a bank queue, Rahul quipped: "Mine and Narendra Modi's styles are different. I won't speak about his mother.