New Delhi, May 30 -- The demonisation announcement made by Prime Minister Narendra Modi was the "first major blow to the economy," with the economy not recovering from the shock till date, said Congress leader and party's General Secretary in-charge of Communications, Jairam Ramesh on Friday.

Ramesh further said with 98.24 pc of Rs 2000 notes being returned to Reserve Bank of India (RBI), which were introduced at the same time of demonisation, has proven that the whole "experiment" was a futile exercise.

Criticising the demonisation policy in a post on X, Ramesh posted, "The demonetisation announcement made with much fanfare by the Prime Minister on the night of 8 November 2016 was the first major blow to our economy - and the economy h...