1. Morarji Desai adopted demonetisation in 1978, why did the economy not resurrect then?, asks Uddhav Thackeray

Morarji Desai adopted demonetisation in 1978, why did the economy not resurrect then?, asks Uddhav Thackeray

Shiv Sena Chief Uddhav Thackeray today stated that PM Modi said Indira Gandhi ignored advice to demonetise in 1971 & hence the economy suffered. Thackeray questioned, 'Morarji Desai adopted demonetisation in 1978, why did the economy not resurrect then?'

By: | Updated: December 18, 2016 6:33 AM
Shiv Sena Chief Uddhav Thackeray today stated that PM Modi said Indira Gandhi ignored advice to demonetise in 1971 & hence the economy suffered. Thackeray questioned, 'Morarji Desai adopted demonetisation in 1978, why did the economy not resurrect then?' (PTI) Shiv Sena Chief Uddhav Thackeray today stated that PM Modi said Indira Gandhi ignored advice to demonetise in 1971 & hence the economy suffered. Thackeray questioned, ‘Morarji Desai adopted demonetisation in 1978, why did the economy not resurrect then?’ (PTI)

In the wake of Prime Minister Modi’s statement yesterday on the last day of the winter session of Parliament over Ex PM Indira Gandhi that she lacked courage to demonetise the currency, Shiv Sena Chief Uddhav Thackeray today stated that PM Modi said Indira Gandhi ignored advice to demonetise in 1971 & hence the economy suffered. Thackeray questioned, ‘Morarji Desai adopted demonetisation in 1978, why did the economy not resurrect then?’

PM Modi had yesterday blamed the Congress party and said that the current situation would have been better and people have had not suffered so much, if late Indira Gandhi had shown the courage to demonetise high value currency in the early 1970s. The Prime Minister referred to former bureaucrat Madhav Godbole’s book in which he has recorded how then Home Minister YB Chavan had recommended demonetisation of high value currency to the Indira Gandhi government. “When (then Finance Minister) Y B Chavan told her about the proposals (of the Wanchoo committee) on demonetisation and his view that it should be accepted and implemented forthwith, she (Indira Gandhi) just looked at him and asked Chavan only one question: ‘Chavanji, are no more elections to be fought by the Congress party? Chavan got the message’.Tell me, is the nation big or the party for them?”, PM said as quoted by Indian Express.

The PM lashed out at the Opposition for not taking effective measures to curb black money in the country earlier in time. On the other hand, reactions are coming form all political parties on the same. Today NCP president Sharad Pawar also hit out at Prime Minister Narendra Modi for dragging Indira Gandhi into the demonetisation debate. He asked why other premiers after Indira Gandhi, including Atal Bihari Vajpayee, did not take the note ban decision. “According to him (Modi), Indira Gandhi did not go in for demonetisation as suggested by her Finance Minister Y B Chavan. So even PMs after her, including Atal Bihari Vajpayee, and even Finance Minister in the BJP regime Yashwant Sinha or the then Deputy Prime Minister L K Advani did not take such a decision,” Pawar told a press meet here.

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After Modi had trained guns at the former PM Indira Gandhi yesterday, claiming that she overlooked a suggestion in 1971 for demonetisation by the then Finance Minister Y B Chavan, he had also said his government has now done what could have been done back in 1971 and because there had been a delay in taking the decision of demonetisation, a lot of damage has been caused to the country.

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