#Demonetisation ,Former PM Dr Manmohan Singh  strongly worded attack on the NDA government in the Rajya Sabha,

 

#NewDelhi: The NDA government’s decision to recall high-value banknotes two weeks ago was implemented with “monumental mismanagement” that may shave off at least 2 percentage points from India’s GDP, former prime minister Manmohan Singh told Parliament on Thursday. In a strongly worded attack on the government in the Rajya Sabha, Singh said the deaths of people and distress among the poor, farmers and small traders convinced him the demonetisation plan had led to “organised loot and legalised plunder”.  

 

“Already 60 or 65 people have lost their lives, possibly more. This move will weaken and erode the people’s confidence in our currency and banking system,” he said, with Prime Minister Narendra Modi sitting in the treasury benches. Since the demonetisation move was rolled out, millions of people have lined up outside banks and ATMs to exchange, withdraw or deposit currency with farmers and small traders the hardest hit.

 

Here’s why Several have allegedly died while waiting in the long queues and because of a cash crunch that is said to have severely affected the countryside. “In my opinion, demonetisation will hurt agricultural growth, small industries and all those who are in the informal sectors. I urge the prime minister to find practical and pragmatic ways and means to end the distress of people.”