Mon, Feb 27, 2017 | updated 09:51 AM IST

"Demonetisation a monumental case of mismanagement": Manmohan Singh

Updated: Nov 24, 2016 13:05 IST
New Delhi,[India] Nov. 24 (ANI): Alleging that more than 65 people have lost their lives courtesy the demonetisation drive, former prime minister Dr Manmohan Singh on Thursday said monumental mismanagement has been undertaken in implementation of the same, adding this will weaken economic growth.

Dr Singh asked Prime Minister Narendra Modi to find out a practical and pragmatic solution to prevent this distress that has been caused to the common public.

Dr Singh, who led the opposition charge in the Rajya Sabha, highlighted the problems of demonetisation.

"It is important to take note of the grievances faced by the people over demonetisation in the country. The PM has said that we should wait for 52 days, it is a short period. But for those who are poor and deprived, those 50 days can bring about a disastrous affect in the country," said Dr Singh.

The former prime minister said demonetisation can weaken and erode the confidence in the currency and banking system in the country.

"I would want to know from the PM the names of any countries he may think of where people have deposited money in the banks, but are not allowed to withdraw their money. This alone I think is enough to condemn what has been done in the name of demonetisation," said Dr Singh.

"In my opinion this scheme of demonetisation, the way it is being implemented will hurt the agriculture growth in our country, will hurt small industry, will hurt all those people who are in the informal sectors in the economy," he added.

Dr Singh further said the national income that is the GDP of the country can decline about two percent as a result of this move.

"This is an underestimate and not overestimate, therefore, I feel that the PM must come with some constructive proposal of how we can implement this scheme and at the same time prevent this distress that has been caused to the common people. It is no good that every day the banking system comes with modification of the rules, the conditions with which the people can withdraw money that reflects very poorly on the PM's office, on the FM's office and on the RBI," said Dr Singh.

"I am very sorry that the RBI has been exposed to this sort of criticism which I think is fully justified," he added.

The Rajya Sabha earlier witnessed noisy scenes after the Opposition demanded that Prime Minister Modi should be present in the House during the resumed discussion.

Leader of the House Arun Jaitley objected to the decision of the Deputy Chairman to allow the former prime minister to speak in the Zero Hour. He said if Dr Singh wants to speak on demonetisation, then the House should resume the discussion. Minister of State for Parliamentary Affairs Mukhtar Abbas Naqvi suggested that the House first take up the discussion and Dr Singh can participate.

The Lok Sabha also witnessed uproarious scene as soon as the Question Hour began. Congress leader Mallikarjun Kharge stuck to his party's demand to discuss the demonetisation issue suspending the Question Hour. Later, opposition members including Congress, TMC, SP and NCP trooped into the well shouting slogans. (ANI)

New Delhi [India], Feb. 27 (ANI): Asserting that his woes have gone unheard Border Security Force (BSF) soldier Tej Bahadur Yadav in another video questioned Prime Minister Narendra Modi's desire to oust corruption from the nation.

Full Story >>

New Delhi [India], Feb. 27 (ANI): Branding Minister of State for Home Affairs Kiren Rijiju as a "goofy minister" for dubbing the recent clashes between the All India Students' Association (AISA) and Akhil Bharatiya Vidyarthi Parishad (ABVP) at Ramjas College as an act of anti-nationalism, the Congress on Monday said that the former should refrain from making statements on issues which he cannot understand.

Full Story >>

New Delhi [India] Feb. 27 (ANI): Castigating Minister of State for Home Affairs Kiren Rijiju over his remark, that anyone who wants to break India and supports terrorists can be branded an 'anti-national', the Janata Dal (United) on Monday said that the former and his party did not fight for the nation's freedom and hence should not meddle in such issues.

Full Story >>

Mumbai (Maharashtra) [India], Feb. 27 (ANI): Harbour line services were halted on the Central Railways line after three wagons and brake van of a goods train derailed between Ravli and Kurla here, on down harbour line early on Monday Morning.

Full Story >>

UP: Polling for fifth phase begins

Updated: Feb 27, 2017 07:52 IST

Ayodhya (Uttar Pradesh), [India] Feb 27 (ANI): The Fifth phase of Uttar Pradesh assembly elections for 51 seats spread across 12 districts began today.

Full Story >>

Stage set for fifth phase of UP Polls

Updated: Feb 27, 2017 07:09 IST

Lucknow (Uttar Pradesh) [India], Feb. 27 (ANI): All arrangements are in place for fifth phase of Uttar Pradesh Assembly elections.

Full Story >>

TN CM Palanisami to meet PM Modi today

Updated: Feb 27, 2017 06:28 IST

New Delhi [India], Feb. 27 (ANI): Tamil Nadu Chief Minister Edappadi K. Palanisami will on Monday meet Prime Minister Narendra Modi in the national capital.

Full Story >>

New Delhi [India], Feb. 27 (ANI): The Delhi High Court will on Monday hear a plea filed by Vodafone India alleging that the Telecom Regulatory Authority of India ( TRAI) had failed to prohibit Reliance Jio Infocomm Ltd's (RJIO) "blatant violation" of tariff orders, directions and regulations by permitting it to continue with its free offers.

Full Story >>

Sahebganj (Jharkhand) [India], Feb. 27 (ANI): A major train accident was averted in Jharkhand's Sahebganj (eastern railway), as 44 peddles were found open near Balbanna village.

Full Story >>

New Delhi [India], Feb. 27 (ANI): The Delhi High Court will on Monday pronounce its order on the nursery admission notification of the Delhi Government.

Full Story >>

New Delhi [India], Feb. 27 (ANI): A Delhi court will on Monday hear Himachal Pradesh Chief Minister Virbhadra Singh's disproportionate assets case.

Full Story >>

New Delhi [India], Feb. 27 (ANI): The Supreme Court will on Monday hear the plea filed by State Bank of India(SBI)-led consortium of banks seeking recovery of its loan amount to the tune of Rs. 8,000 crore approximately and contempt against liquor baron and businessman Vijay Mallya.

Full Story >>

New Delhi [India], Feb. 27 (ANI): The Supreme Court will on Monday hear the plea filed by Union Minister Rajyavardhan Rathore against Parasvnath developers in connection with the builders apathetic attitude for not providing the basic amenities while providing him the flat.

Full Story >>

Chennai (Tamil Nadu) [India], Feb. 27 (ANI): The Madras High Court will on Monday resume its hearing in regard to Dravida Munnetra Kazhagham's (DMK) petition challenging Tamil Nadu Chief Minister Edappadi K. Palanisami's floor test.

Full Story >>

New Delhi [India], Feb. 27 (ANI): The Delhi High Court is likely to pronounce its decision on the Election Commission's plea for cancelling mafia-turned politician Mukhtar Ansari's custody parole granted by a trial court for canvassing in the Uttar Pradesh Assembly polls.

Full Story >>

New Delhi [India], Feb. 27 (ANI): Defence Expert Major General (Retd.) P.K. Sehgal on Monday said the concerns over possible clamp down on H-1B visas and safety of Indians in the United States are at present the most 'critically important' factors to India and must to be taken up with America in a major way.

Full Story >>

Bengaluru (Karnataka) [India], Feb. 27 (ANI): Raising serious concern over the death of a youth from Kerala in a drone strike in Afghanistan, who is believed to have joined the ISIS, the Bharatiya Janata Party (BJP) on Monday said these recruitments are a threat to the national security and urged political parties not to indulge in politicise such sensitive issues.

Full Story >>

New Delhi [India], Feb. 27 (ANI): Lashing out at Minister of State for Home Affairs Kiren Rijiju who claimed that anyone who wants to break India and supports terrorists can be called an anti-national, the Congress Party on Monday said the former should not mix patriotism with "hatriotism" and must examine the fact that he is not confined to any particular party.

Full Story >>

Rajkot (Gujarat) [India] Feb. 26 (ANI): The security has been beefed up at Somnath temple after Gujarat Anti-Terrorism Squad (ATS) arrested two persons for alleged links with ISIS.

Full Story >>

Okram Chuthek (Imphal) [India] Feb. 26 (ANI): A bomb blast was reported outside the residence of Hueiyen Lanpao (local vernacular) editor H Ningomba and ISTV editor B Ningomba in Okram Chuthek region of Imphal.

Full Story >>