Demonetisation idea wrong, don’t blame its execution: Rajiv Bajaj

“If the solution or the idea is right, it will go like a hot knife through butter. If the idea is not working, for example demonetisation, don’t blame execution. I think your idea itself is wrong,” Bajaj said.

By: ENS Economic Bureau | Mumbai | Updated: February 17, 2017 10:29 am
Rajiv Bajaj, demonetisation, demonetisation effects, demonetisation damage, bajaj, bajaj MD, demonetisation criticism, made in india, indian express news, india news, business news, economy Govt approvals will make ‘Made in India’ ‘Mad in India’

BAJAJ AUTO Managing Director Rajiv Bajaj on Thursday criticised the withdrawal of high value notes in November last year, saying the idea itself was “wrong” and it was incorrect to blame only the execution.

“If the solution or the idea is right, it will go like a hot knife through butter. If the idea is not working, for example demonetisation, don’t blame execution. I think your idea itself is wrong,” Bajaj said at the annual Nasscom Leadership Forum, in a rare public criticism of the move by a corporate chief.

WATCH VIDEO | Bajaj Auto MD Rajiv Bajaj Criticises Modi Government’s Demonetisation Move

Bajaj also took potshots at the government’s ‘Made in India’ initiative, saying regulatory agencies and government approvals would turn ‘Made in India’ into ‘Mad in India’. “If your innovation in the country depends on government approval or judicial process, it will not be a case of ‘Made in India’, but ‘Mad in India’. After five years, we are still waiting for permission to sell our four-wheeler in the country,” he said.

While the quadricycle is being sold across countries in Europe, Asia and Latin America, Bajaj wondered why a vehicle which is cleaner, fuel-efficient, safer and whose benefits are as “obvious as daylight”, is facing problems in India. “This is the only country that has not given us permission to sell this vehicle. Because, for some reason, it thinks if four-wheeler is worse, let people continue on three-wheeler,” he said.

On November 8, the government announced the withdrawal of 500 and 1,000 rupee notes in what it said was an attempt to check black money and corruption. The ban on total currency worth Rs 15.55 lakh crore in circulation impacted economic activity across sectors.

The Society of Indian Automobile Manufacturers (SIAM) recently said its impact can still be felt in the two-wheeler segment. “We expect a big revival in commercial segment in the next two months. The rural markets are deeply impacted by note ban and will take more time to recover,” it said. In January, two-wheeler sales registered a decline of 7.39 per cent compared to January last year, SIAM said.

During the period of demonetisation, sales of two-wheelers slid 22 per cent in December 2016, marking the highest monthly contraction after SIAM started recording the data since 1997. Bajaj Auto’s total domestic sales, including those of two-wheelers as well as three-wheelers, were down 16 per cent to 1,35,188 units in January from 1,61,870 units sold during the period last year.

Bajaj Qute, a four-wheeler, comes under a whole new category — the quadricycle. A quadricycle is a four-wheeled microcar seen mostly in Europe, with limitations in terms of weight, power and speed. It has the features of a three-wheeler as well as a car, with carbon emission of 66 g/km, which, when compared to other four-wheelers, is on the lower side. It can attain a speed of up to 70 kmph and a fuel consumption level of one litre for 36 kms.

Bajaj said his company is “anti-car”. “We feel people should either walk, cycle or use a two-wheeler. Cars are too big, too fast. they pollute, they congest and kill all of us on two-wheelers. People say two-wheelers are dangerous, My submission is two-wheelers are dangerous only when hit by a car,” he said.

— With PTI inputs

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    Bipin Bhardwaj
    Feb 17, 2017 at 4:33 am
    False claims, fraudulent aims proved the complete failure and ;lies of the Govt. It was more a political move and has nothing to do with the Black money, corruption or terrorism, it was to seize the ground lost for not fulfilling any of the election promises, and high hopes it has raised. The aim was to hide its agenda of making Adanis,Ambanis the richest people on earth by robbery and per of the resources, the treasury.
    Reply
    1. G
      Gautam Jain
      Feb 18, 2017 at 4:37 am
      Way to go mr Bajaj...First time someone is speaking sense in the corporate circle
      Reply
      1. M
        Mahipati
        Feb 17, 2017 at 9:45 pm
        Modi's Idea of demonetisation to curb corruption, terrorism and black money is shear fullishness from chaiwala
        Reply
        1. O
          Outraged Indian
          Feb 17, 2017 at 4:12 am
          well said!!
          Reply
          1. M
            Manohar
            Feb 17, 2017 at 4:06 am
            Demonatization is BIGGEST scam.lt;br/gt;lt;br/gt;Recently BJP leader was arrested for being ISI agent. lt;br/gt;lt;br/gt;Our soldiers are at the border fighting external enemies so RSS/BJP/ISI agents did Demonatization and MUEDERED 100 Indians and disrupted lives of 1 billion Indians under the guise of "war on black money".lt;br/gt;lt;br/gt;If modi was serious about corruption then why didn't he lt;br/gt;lt;br/gt;1. Get lokpal bill to stop corruptionlt;br/gt;2. Bring political party funding under RTIlt;br/gt;lt;br/gt;BEFORE killing 100 Indians and disrupting lives of BILLION.lt;br/gt;lt;br/gt;Only stan loves their agents RSS/BJP destroying India, hence you will all ISI agents supporting RSS/BJP .lt;br/gt;lt;br/gt;ISI/RSS/BJP agents will even down vote this comment for exposing them.
            Reply
            1. M
              Manohar
              Feb 17, 2017 at 5:28 am
              Recently BJP leader was arrested for being ISI agent. lt;br/gt;lt;br/gt;Our soldiers are at the border fighting external enemies so RSS/BJP/ISI agents did Demonatization and MUEDERED 100 Indians and disrupted lives of 1 billion Indians under the guise of "war on black money".lt;br/gt;lt;br/gt;If modi was serious about corruption then why didn't he lt;br/gt;lt;br/gt;1. Get lokpal bill to stop corruptionlt;br/gt;2. Bring political party funding under RTIlt;br/gt;lt;br/gt;BEFORE killing 100 Indians and disrupting lives of BILLION.lt;br/gt;lt;br/gt;Only stan loves their agents RSS/BJP destroying India, hence you will all ISI agents supporting RSS/BJP .lt;br/gt;lt;br/gt;ISI/RSS/BJP agents will even down vote this comment for exposing them.
              Reply
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                Naresh soni
                Feb 17, 2017 at 4:05 pm
                Bajaj group has got tremendous favors during congress regime. They forced Indian people to drive their third cl product for more than three decades. Now you find what is actual compeion. You would obviously oppose to any move by NDA
                Reply
                1. N
                  Nixon Augustin
                  Feb 17, 2017 at 5:01 am
                  communal BJP is going to call Rajiv Bajaji anti-national
                  Reply
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