Wednesday, 21 November 2018

Scars and wounds caused by demonetisation more visible with time: Former PM Manmohan Singh

Describing demonetisation as an “ill-fated” and “ill-thought” exercise, Singh said in a statement that the havoc it unleashed on the Indian economy and society is now evident to everyone.

New Delhi, Nov. 8, 2018: In a scathing assessment of the demonetisation exercise, former prime minister Manmohan Singh on Thursday said the “scars and wounds” it caused are getting more visible with time and the decision’s second anniversary is a day to remember how “economic misadventures” can roil the nation.

The senior Congress leader asked the government to not resort to further unorthodox, short-term economic measures that can cause any more uncertainty in the economy.

Describing demonetisation as an “ill-fated” and “ill-thought” exercise, Singh said in a statement that the havoc it unleashed on the Indian economy and society is now evident to everyone.

On November 8, 2016, Prime Minister Narendra Modi announced a ban on then in use Rs 1,000 and Rs 500 denomination bank notes with immediate effect.

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