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Manmohan Singh on demonetisation: Monumental mismanagement

Monumental mismanagement failure

New Delhi:  Former Prime Minister Manmohan Singh on Thursday led the Opposition charge on the issue of demonetisation and gave a strong speech in Rajya Sabha. He called the move to ban Rs 500 and Rs 1000 notes a monumental mismanagement and organised loot and legalised plunder.

That is why 60-65 people have lost their lives so far, he said adding that he is in favour of putting a stop to black money but he had issues with the measure taken by the government.

“Cooperative banking sector which is serving large numbers in rural areas is not operational and the way in which demonetisation has been implemented will hurt agriculture and small industries. So PM Modi must come with some constructive proposal how we can implement the scheme,” said Singh.

There have been several interruptions and adjournments so far in both houses of Parliament over demonetisation.  On November 16 when the winter session of Parliament started, a united opposition has disrupted proceedings continuously with opposition members demanding the presence of PM Modi in the house to debate demonetisation.

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