Demonetisation is immoral, theft of peoples property: Steve Forbes
December 25, 2016 12:37
Calling Indias demonetisation drive as immoral, Steve Forbes, Editor-in-Chief of Forbes magazine, said it also amounted to theft of peoples property.
The November 8 move to spike the Rs 500 and Rs 1,000 notes had damaged the Indian economy, future investment and was also an assault on the privacy of common man life by inflicting more state control.
Indias government perpetrated an unprecedented act that is not only damaging its economy and threatening destitution to countless millions of its already poor citizens but also breathtaking in its immorality, the respected magazine said.
What India has done is commit a massive theft of peoples property without even the pretence of due process -- a shocking move for a democratically elected government.
Not surprisingly, the government is downplaying the fact that this move will give India a onetime windfall of perhaps tens of billions of dollars.
Forbes compared the demonetisation with the forced-sterilization drive undertaken by the then Indira Gandhi government during her Emergency regime of 1975-77.
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