JK News Today

 New Delhi, November 24 ( JKNT)

 Former Prime Minister Manmohan Singh on Thursday ripped apart the  demonetization policy of his successor Narendra Modi and called it  as “ organized loot and legalized plunder.”

 Manmohan Singh having unquestionable   credentials as a renowned economist who  steered the  country through worst global recession in 2008  was unsparing in  his criticism  of the November 8 demonetization policy, which   declared Rs 500 and Rs 1000  notes as illegal tender.

 The former Prime Minister who was the first speaker in Rajya Sabha after  Prime Minister Narendra Modi came to the House to listen to the debate on the  scrapping of the high value notes ,  in his opening remarks described it as a  “ monumental mismanagement.” Saying  that this has brought innumerable sufferings for the common man, agriculture sector and the small traders besides  having the dangerous potential to cut the GDP by 2 per cent, Manmohan Singh pointed out serious lapses in the policy. He went on to charge  the Prime Minister, Finance Minister and RBI Governor’s office for having created this mess in the economy of the country.

He charged Prime Minister  with insensitivity toward the poor while recalling Modi’s  call to bear with the pain for 50 days. “ This 50 days is  very short period for the  poor ,” Manmohan Singh said.