1. From calling it India’s ‘Lehman moment’ to ‘economic nasbandi’, Shankar Sharma disgusted with denmonetisation

From calling it India’s ‘Lehman moment’ to ‘economic nasbandi’, Shankar Sharma disgusted with denmonetisation

Shankar Sharma has called the government's move 'economic nasbandi'. "This demonetization reminds of the Nasbandi drive of 70s," he said.

By: | Updated: November 17, 2016 6:31 PM
Shankar Sharma, Shankar Sharma demonetisation, Shankar Sharma twitter Not all experts are going gaga over the Narendra Modi government’s demonetisation move, and one of biggest critics has been the market guru Shankar Sharma. (File image)

Not all experts are going gaga over the Narendra Modi government’s demonetisation move, and one of biggest critics has been the market guru Shankar Sharma. Shankar Sharma has been criticising the step from Day 1, but his one particular tweet caught our eye. Sharma has called the government’s move ‘economic nasbandi’. “This demonetization reminds of the Nasbandi drive of 70s. Bina soche, Bina blood/ oxygen, straight castration. This is economic Nasbandi,” he tweeted.

Earlier this week, he had tweeted, “didn’t realise whole country was corrupt, looking at the bank lines. And by extension, the 0.1 pct not in que are honest. Total reversal.” Sharma had even called this India’s ‘Lehman moment’. “We should be proud. We now have a financial logjam. Our Lehman moment,” he said. “One thing is clear to me: there will be a significant earnings hit because of demonetization. The market is reacting correctly,” he had said last week. Shankar Sharma also claimed that had the demonetisation happened during the Congress regime, it would have been implemented “superbly”. “One thing I am sure of: if UPA had done anything like this demonetization, they would have managed superbly. PC super manager. Not this mess,” he tweeted.

Also check: Demonetisation live blog and updates

Incidentally, Chidambaram too has been slamming demonetisation, taking a sarcastic dig at PM Modi’s promise of “acche din”. “1. Millions of working people standing in queue. Long live Productivity. 2. Thousands of “rich” and “corrupt” persons standing in queue. The poor are cheering from their homes! 3. Banks are doling out cash to citizens. That is proof that “Achhe Din” have arrived!,” the former Finance Minister tweeted.

Last week PM Narendra Modi announced that in a big fight against black money and corruption, all old Rs 500 and Rs 1000 notes will no longer be legal tender money. Even as demonetisation drive plays out, the RBI and government are regularly reviewing cash withdrawal limits at banks and ATMs to reduce the inconvenience to common man. The government has clearly said: There is enough cash in the system to meet the requirement. Members of the public are, therefore, advised not to have any sense of panic.

  1. a
    ashok.saldanha
    Nov 17, 2016 at 6:06 am
    Surinder, please get off the bandwagon of calling anything and everything which criticises the mess made by Modi as "waste".The Government first led a crusade to make everything critical of its "acomplisments" as anti-national and unpatriotic. Now it is using this to great effect by telling people to "grin and bear it" in the "nations interest" and for "soldiers fighting at the border"This hogwash will work for sometime and people are now asking questions in the lines that are forming at 4 a.m. in front of banks which open at 9 a.m. as to the stupidity of this "surgical strike" on black money.Shankar Sharma IS an expert on economic affairs and his opinion should be considered.
    Reply
    1. R
      Raghavan
      Nov 17, 2016 at 10:21 am
      Shankar is know congress supporter and abviuosly his views will be biased
      Reply
      1. S
        Sanjay
        Nov 17, 2016 at 8:07 am
        Modi wants everyone to bow before him except his friends & admirers because they prostrate.
        Reply
        1. S
          Surinder
          Nov 17, 2016 at 5:48 am
          He is not an expert but a gambler. It is disgusting to label him as an expert and waste precious news print on a person of very low IQ.
          Reply
          1. P
            Pruthul S
            Nov 17, 2016 at 6:01 am
            Shankar is a rogue trader. Don't listen to him. He is invariably wrong and he behaves as if he is the most knowledgeable in the world. He is a known critic of NaMo and NDA.
            Reply
            1. R
              Raghav
              Nov 21, 2016 at 8:13 am
              It is a positive move, people will start moving to trade with organised companies in all sector, and start shifting towards plastic cards instead of cash transaction.Good opportunity for Banking to start catering immediately those new customers. Cash Currency is good for economy not Cash transaction (Business) thru Black money.
              Reply
              1. S
                sayhellotolife
                Nov 17, 2016 at 8:28 am
                Who is this pig Shankar Sharma, who has such a soft heart for scamsters UPA. Does he has forget the scams cam out during UPA regime.We common people have no problem, on what basis he is speaking on our behalf.
                Reply
                1. P
                  pvs
                  Nov 18, 2016 at 6:35 am
                  Shankar would have supported British in freedom struggle as hi according to him is old style
                  Reply
                  1. P
                    pvs
                    Nov 18, 2016 at 6:01 am
                    Sir Modi does not like sycophancy. He is action man and aggressive. He is good honest and parakrami like sree ram
                    Reply
                    1. P
                      pvs
                      Nov 18, 2016 at 5:59 am
                      Why Shankara is worried. Sitting in Singapore maniting Indian stop market would have kept tons in cash. Indian economy is resilient. All those world cl economist did not do anything. Modiji India wants. Instead of producing 200 crores children nasbandi is better
                      Reply
                      1. U
                        Uday
                        Nov 17, 2016 at 7:11 am
                        He kind of gave away. He was 'ok' to comment on how #demonitisation is handled. But to state that UPA would have handled better, wasn't needed and kind of gave away his alliance. UPA2 had policy logjam, let alone steps as these.
                        Reply
                        1. v
                          varghese.al
                          Nov 17, 2016 at 7:44 am
                          grate decision implemented in totally failed & unacceptable mode. beforehand government machinery must have delivered enough currency chest with banks to replace. hardware must have suitably modified to handle new denomination and its altered sizes. entire public feel the pinch for no fault of theirs. all business / trade activities come to almost halt. India utterly stopped to live a life. 2016 GDP will slump for 1-1.5% at least, Sen & nifty may slump to 22000 / 7200 levels by mid January.
                          Reply
                          1. V
                            vaskar
                            Nov 17, 2016 at 7:08 am
                            Who is this ? Calls himself some kind of expert..Fraud
                            Reply
                            1. Vikas Mishra
                              Nov 17, 2016 at 9:11 am
                              LOL. Shankar Sharma is an expert on economic affairs. Hahaha. Next joke please.
                              Reply
                              1. Load More Comments

                              Go to Top