Bengaluru, DHNS: The Legislative Assembly on Wednesday witnessed a heated exchange of words between BJP and Congress members over the merits and demerits of demonetisation of high value currency notes.

Participating in a motion of thanks to the Governor’s address, K N Rajanna (Congress) said the demonetisation move has failed to arrest corruption and black money. But it has increased unemployment rate in the country, he charged.

Rajanna said demonetisation had a negative impact on the economy. “Farmers have stopped getting loan. Retrenchment of employees is on the rise,” he said and wondered what happened to Prime Minister Narendra Modi’s promise of bringing black money stacked aboard back to the country.

K G Bopaiah (BJP) said Rajanna was speaking on an issue that came under the jurisdiction of Parliament. “Who is here to answer to the points raised by you? he asked.

Industries Minister R V Deshpande said demonetisation has affected every sector, including the state’s resources and the member has every right to raise the issue.

Aravind Limbavali (BJP) said Rajanna, who is also the president of Karnataka State Cooperative Apex Bank, should also inform the House about the large-scale cash deposits in state cooperative units after demonetisation. This remark led to arguments and counter arguments between Congress and BJP members, and Speaker K B Koliwad had to intervene several times to bring the House to order.