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Ex-PM Manmohan Singh Terms Demonetisation A Monumental Management Failure
Ex-PM Manmohan Singh Terms Demonetisation A Monumental Management Failure

As Prime Minister Narendra Modi attends his first Rajya Sabha session on Day 7 of Winter Session of Parliament following repeated adjournments over demonetisation protests, economist and former Prime Minister Manmohan Singh took the stage calling the demonetisation implementation a ‘monumental mismanagement.’

The former PM highlighted the grievances of people and said that its “important to take note of the grievances of the people suffering. 60-65 people have lost their lives, what has been done can weaken our people’s confidence in currency and banking system.PM said wait for 50 days but for the poor section even 50 days can be detrimental.”

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“Monumental mismanagement has been undertaken in implementation of DeMonetisation. Cooperative banking sector which is serving large number in rural sector is not operational. I want to ask PM that can he name any country where people have deposited their money but are not able to withdraw it,” said Singh.

 

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“PM must come with some constructive proposal how we can implement the scheme and I hope that PM will help us find practical ways to give relief to people suffering,” he added.

“Those who say demonetisation is good in the long run should recall quote ‘In the long run we are all dead'” Manmohan Singh said in Rajya Sabha.