India’s former Prime Minster Manmohan Singh on November 24 finally broke his silence on government’s move to demonetize of old Rs. 500 and Rs. 1000 currency notes and expressed his displeasure at the way it has been handled
Calling the whole process a ‘monumental mismanagement,’ Singh said that the decision was an overnight ‘imposition’ by the government.
In the process of Demonetisation monumental mismanagement has taken place: Dr Manmohan Singh, in the Rajya Sabha
Advertisement— INC India (@INCIndia) November 24, 2016
It is important to take note of the grievances of the people who have suffered as a result of this imposition on the country overnight.
— INC India (@INCIndia) November 24, 2016
He further added that though people say that it is just a short-term trouble, there was no long-term guarantee for it .
Even those who say that this measure will cause distress, in the short run, & it will be in the interest of the country in the long run…
— INC India (@INCIndia) November 24, 2016
… reminds me of John Keynes’ words, “In the long run we are all dead.”: Dr Singh
— INC India (@INCIndia) November 24, 2016
I say, with all responsibility, that we do not know what will be the final outcome: Dr Manmohan Singh, in Rajya Sabha on Demonetisation
— INC India (@INCIndia) November 24, 2016
He then went on to point towards the deaths that have taken place due to demonetization and said that for any poor person 50 days with no money is too much.
PM said we should wait 50 days. For those who are from the poor & deprived sections, even 50 days torture can bring about disastrous effect.
— INC India (@INCIndia) November 24, 2016
60-65 people have lost their lives. What has been done can erode our people’s confidence in the currency & banking system: Dr Singh
— INC India (@INCIndia) November 24, 2016
He then questioned PM Modi as to why people were not being allowed to withdraw their own money.
I would like to know from the PM, the names of any countries where people have…
— INC India (@INCIndia) November 24, 2016
… deposited their money in the bank, but aren’t allowed to withdraw their money: Dr Manmohan Singh in Rajya Sabha
— INC India (@INCIndia) November 24, 2016
This alone is enough to condemn what has been done in the name of greater good for the people: Dr Singh
— INC India (@INCIndia) November 24, 2016
Singh then pointed out how the current government’s move will hurt India in the long run and added that people were justified in criticising the government and RBI for it.
I would like to point out, that in my opinion, this scheme, the way it is implemented will hurt agricultural growth in our country, …
— INC India (@INCIndia) November 24, 2016
… will hurt small industry & will hurt all those people who are in the informal sector of the economy: Dr Singh
— INC India (@INCIndia) November 24, 2016
The GDP of the country can decline by about 2 percentage pts as a result of what has been done. This is an underestimate: Dr Singh
— INC India (@INCIndia) November 24, 2016
This reflects very poorly on the PMO, Finance Minister’s Office, & on the RBI: Dr Manmohan Singh
— INC India (@INCIndia) November 24, 2016
I am very sorry that the RBI has been exposed to this sort of criticism, which I think i fully justified: Dr Manmohan Singh
— INC India (@INCIndia) November 24, 2016
Here is what he said,
His view though didn’t go down well with many, and they soon took to twitter to slam the former PM.
@INCIndia Dr Manmohan spoke 😲Modi made him speak atlast… Added in Modji Achievements which Sonia Ji couldn’t do in years…
— ImVkalal (@ImVkalal) November 24, 2016
BREAKING: Sonia Gandhi Was Spotted Buying 2 Duracell Batteries Last Night. 😉
RT If You Know What I Mean. 😉
Manmohan Singh #BlackMoney pic.twitter.com/SMii6GG3NL
— Sir Ravindra Jadeja (@SirJadeja) November 24, 2016
Manmohan Singh finally got a chance to speak under Modi Government. Yahi toh hain ache din.
— Bobby Deol Ji (@thebobbydeoll) November 24, 2016
@INCIndia When Sonia Gandhi gave the sheet to be read in RS today morning.. pic.twitter.com/vTMWVX9HKP
— Dhinesh (@dhinz_tweets) November 24, 2016
@INCIndia When Sonia Gandhi gave the sheet to be read in RS today morning.. pic.twitter.com/vTMWVX9HKP
— Dhinesh (@dhinz_tweets) November 24, 2016
@INCIndia pic.twitter.com/MRMhzVMQwg
— tejas kanchyani (@iam_tejask) November 24, 2016
Before serving as the Prime Minister of India from 2004 and 2014, Singh had held many important posts in the finance industry.
