SC verdict on demonetisation is only academically relevant 

It would be fallacious if the NDA government treats the Supreme Court’s verdict on demonetisation as some kind of a political victory worthy of using as an electoral weapon. A five-member constitution bench, in a majority 4-1 judgment, upheld the 2016 decision to ban the currency notes of Rs. 500 and Rs.1,000 denominations. However, the apex court’s post-facto ruling is only of academic interest at this juncture and should not be interpreted as a judicial endorsement of the success of the note ban. In fact, the entire country has endured enormous pain and suffering because of the ill-conceived and hastily implemented idea which proved to be a spectacular disaster, disrupting the economy and throwing millions out of jobs. Many economists have termed demonetisation as one of the worst decisions which have destroyed the Indian economy. The promise of black money returning to the government exchequer through demonetisation also did not happen. The cash circulation also continues to be very high. In hindsight, demonetisation only benefited BJP electorally. The country has suffered a lot from it. Further, it must be pointed out that the SC did not go into the merits of the outcome of the demonetisation move but only examined the decision-making process and whether there was consultation between the Centre and Reserve Bank of India. While dealing with a batch of 58 petitions assailing the government’s move, the court found no flaw in the process adopted by the Centre and also rejected the argument that the note ban decision should have emanated from the central bank. However, in a dissenting judgment, Justice Nagarathna dubbed the decision as ‘vitiated and unlawful’ and said the move could have been executed through an act of Parliament.