Taking a dig at the former Prime Minister Manmohan Singh for calling demonetisation “a legalised loot”, Finance Minister Arun Jaitley, on the eve of one year of demonetisation, said, that loot was what happened in 2G, CWG contracts and coal block allocations. He said that it was surprising that an economic exercise, which has an “ethical and moral rationale” behind it, was termed as “loot”.
Last year, post the announcement of demonetisation, Manmohan Singh had called it a monumental disaster, organised plunder and legalised loot. Arun Jaitley also attacked the Congress on dynastic politics and said that the party has a different point of view in the matter of ethics; their primary objective is to serve the family, while BJP’s primary objective is to serve the nation.
The Finance Minister also said that the Prime Minister Narendra Modi has undertaken structural reforms one after the other to bring the change, while the UPA, for 10 years ran a government with was a policy paralysis. Between the UPA and the NDA, policy paralysis is on the one hand and structural reforms on the other, he said.
Earlier in the day, Manmohan Singh has slammed the Narendra Modi government for demonetisation. Speaking at a public gathering, Manmohan Singh said that November 8 was far from being anti-black money day, and was a black day for the Indian economy. “Tomorrow we mark one year since the disastrous policy was thrust on the people of our country,” Manmohan Singh said in Gujarat’s Ahmedabad. Slamming the centre, Manmohan Singh said that nowhere in the world has any nation has taken “such a drastic step that swept off 86% of the currency”.
Last year, post the announcement of demonetisation, Manmohan Singh had called it a monumental disaster, organised plunder and legalised loot.
On November 8, 2016, Prime Minister Narendra Modi, in a televised nationwide address, announced to ban high-denomination notes of Rs 500 and Rs 1,000, and announced new notes of Rs 500 and Rs 2,000. The public was given 53 days to deposit or exchange old notes. Then, terrorism, corruption and black money were at the centre of Prime Minister’s decision to ban high-value notes.
“To break the grip of corruption and black money, we have decided that the 500 rupee and 1,000 rupee currency notes presently in use will no longer be legal tender from midnight tonight, that is 8th November 2016. This means that these notes will not be acceptable for transactions from midnight onwards. The 500 and 1,000 rupee notes hoarded by anti-national and anti-social elements will become just worthless pieces of paper,” the Prime Minister had said.