New Delhi, Nov 28 (IANS): Prime Minister Narendra Modi's demonetisation scheme has proved to be a "flop" vis-a-vis its stated objectives, Delhi Chief Minister Arvind Kejriwal said on Monday.

"The entire scheme is a flop, it has proved a failure," the Aam Aadmi Party leader told a news conference here.

He said Modi's ego had put the entire nation into misery and pushed back the country's economy by a decade in just 20 days.

The demonetisation of Rs 500 and Rs 1,000 notes, announced by Modi on November 8, was meant to check black money, corruption, terror funding and counterfeit currency.

Kejriwal said the scheme had failed in all the aspects.

He said black money economy had galloped since the note ban was announced and the new currency was being used for corruption.

Terrorists had already got hold of the new currency even as ordinary people across the country were struggling to get them due to a severe cash crunch caused by demonetisation, he said.