Worst is yet to come: Manmohan on demonetisation
January 11, 2017 20:01
Amid fears of a decline in the country's GDP, former Prime Minister Manmohan Singh cautioned the people today that the worse was yet to come in the wake of demonetisation which he termed as a "disaster".
At a convention called by Congress on demonetisation, former Finance Minister P Chidambaram claimed there was no record of the Cabinet meeting of November 8 when the government had said to have taken the decision to withdraw Rs 500 and Rs 1,000 notes.
In his address at the 'Jan Vedna' conclave, Singh termed demonetisation as a "disaster" and said things were going from bad to worse and that the worse was yet to come.
He dismissed as "hollow claim" Prime Minister Narendra "Modi's propaganda" that things have started looking up.
The former Prime Minister said it was the "solemn duty" of all Congress men to tell the people the wrongs that have been done by Modi and that a "clarion call" should be given to the countrymen to "awake and rise" up in protest.
Both Singh and Chidambaram said there would be decline in the country's gross domestic product because of demonetisation.
Chidambaram, in his address, said there is no record of the Cabinet meeting of November 8.
"Where is the Cabinet note? Where is the Cabinet decision?" he asked. He said that never before in India's history such a farce has been enacted.
The former Finance Minister also said that the reputation of RBI is at risk today.
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