Former Union Finance Minister P Chidambaram. PTI Photo Former Union Finance Minister P Chidambaram. PTI PhotoFormer Union Finance Minister P Chidambaram on Saturday criticised the NDA government’s decision to pull the Rs 1,000 and Rs 500 currency notes out of circulation, saying that the move has pushed the common man into “misery and despair”. “Demonetisation of high denomination currency notes is believed to be one of the methods to ‘kill’ the extant black economy, and to curb the generation of black money. Further, inflation over the years and a large cash economy requires higher denomination currency notes to keep the cost of monetary management of the economy low,” the reporthad noted.

Source: Indian Express November 12, 2016 21:12 UTC