Demonetization failed to check black money: Sharad Pawar

NCP chief Sharad Pawar on Thursday said Centre's demonetization move has failed to curb black money in country and questioned the "real reason" behind its roll out.

"Rural economy is collapsed. Farmers and cooperative movement are affected due to denomination. The move has failed to curb black money. Rs 14.38 lakh crore out of Rs 15.42 lakh crore are deposited in banks till date. If this is the outcome of this major decision then what was the real reason behind it?" he said.

Pawar appealed to people to come on streets in a peaceful manner to protest against "hypocrisy" of the BJP-led Central government.

He was speaking after inaugurating refurbished YB Chavan auditorium at a cooperative bank here.

"Common people are standing in queues since last 50 days, but no black money-holder is seen standing there. The farmers have lost the hope due to fallen prices of agri products. All the sensible and common citizens are now worried about future," he said.