Manmohan Singh blasts Narendra Modi, says demonetisation ‘shattered faith of Indians’

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Updated: December 9, 2016 5:16:50 PM

Former Prime Minister and senior Congress leader, Manmohan Singh has criticised PM Narendra Modi once again over the demonetisation decision and termed it as a 'mere rap on the knuckles of the dishonest black money hoarder'.

Former Prime Minister and senior Congress leader Manmohan Singh has criticised PM Narendra Modi once again over the demonetisation decision and termed it as a 'mere rap on the knuckles of the dishonest black money hoarder'. (Reuters)Former Prime Minister and senior Congress leader Manmohan Singh has criticised PM Narendra Modi once again over the demonetisation decision and termed it as a ‘mere rap on the knuckles of the dishonest black money hoarder’. (Reuters)

Former Prime Minister and senior Congress leader Manmohan Singh has criticised PM Narendra Modi once again over the demonetisation decision and termed it as a ‘mere rap on the knuckles of the dishonest black money hoarder’. Manmohan said that the ‘faith and confidence’ of ‘hundreds of millions’ of Indians have been ‘shattered’, with this decision of the Centre.

Declaration that more than 86 per cent of the value of money held in notes of Rs.500 and Rs.1,000 worthless overnight, had only brought trouble and has shaken faith of common man in the government. Manmohan goes on to call Modi’s decision a travesty of this fundamental duty.

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Singh goes on to explain that millions across the country who earn their wages and hence, save, exclusively in cash has been the worst hit. “To tarnish these as ‘black money’ and throw the lives of these hundreds of millions of poor people in disarray is a mammoth tragedy,” he wrote a structured response on the side effects of demonetisation in The Hindu.

Last month (24 November) during a debate in Rajya Sabha, Singh broke his silence on the central government’s demonetisation move and said, “The GDP of the country will decline by about 2 percent by what has been done. And this is an underestimate and not an overestimate.”

Yesterday, after exactly one month since the note ban came into effect on the orders of PM Narendra Modi, Finance Minister Arun jaitley announced a number of sops for the public if they opt for digital payment method. From petrol to insurance, a number of government services have been made cheaper.

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