Demonetisation an ill-conceived, mis-implemented strategy: Shashi Tharoor

Tharoor also criticised the authorities concerned with lack of planning in printing the same size notes that had been withdrawn to suit existing ATMs.

By: PTI | Thiruvananthapuram | Updated: December 10, 2016 8:44 pm
Shashi Tharoor, Shashi Tharoor demonetisation, demonetisation, Congres, Congress demonetisation, Congress news, India news Congress MP Shashi Tharoor (PTI Photo)

Former Union Minister Shashi Tharoor today termed demonetisation as an ‘ill-conceived and mis-implemented step’ that has created chaos in the country.’ He made it clear he was not against the principle of demonetisation, but that Prime Minister Narendra Modi’s currency replacement exercise “is an ill conceived and mis implemented one that has created chaos in the country.”

One of the major drawbacks was not printing new notes in advance equivalent to the currency withdrawn, he said, inaugurating a bank officers union meeting here. India being a country where 98 per cent of transactions takes place through cash, replacing the currency has resulted in a chaotic situation, the former UN diplomat said.

Tharoor also criticised the authorities concerned with lack of planning in printing the same size notes that had been withdrawn to suit existing ATMs. The cash crunch due to currency replacement has caused ‘immense suffering’ to the common man and affected various sectors, including micro enterprises that contribute nearly 45 per cent to the GDP, the Congress MP from Thiruvananthapuram said.

One major fallout of the currency replacement was that foreign investors had withdrawn billions of dollars during post demonetisation, he said. He also questioned Modi’s claim that demonetisation would end black money, saying “the source of black money generation will remain. It will be generated in new notes also,” he said.

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  1. N
    Nak
    Dec 11, 2016 at 2:32 am
    You can just imagine Modi intelligently answering questions to related to economics in a public setting like the parliament. The w world will figure out that the emperor has no clothes. Bhakts will finally learn,or not,their great leader is a Hologram after all.
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    1. B
      Bhupendra
      Dec 11, 2016 at 7:56 am
      Modi is like RaGa, the only diiference is that he is a better con.
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      1. B
        Bodan
        Dec 10, 2016 at 4:55 pm
        He has already shown how well implemented the conspiracy against his wife.
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        1. R
          Ravindran Kokkaramath K V
          Dec 12, 2016 at 6:56 am
          There are four stages in any giose program: Euphoria, realization, disillusionment and repercussion. Euphoria over the demonetization is over, now we are in the stage of realization. Next is disillusionment of the people who are bound to react when the time comes.
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          1. R
            roby mani
            Dec 10, 2016 at 5:10 pm
            The shouting brigade gets active the moment Sashi speaks. They use unpalatable language to, because they are not able to reply convincingly to the pertinent points raised by him. lt;br/gt;This too appears to be the reason why Modi is reluctant to sit through parliament session and answer to the points raised by the opposition. It seems that he is scared that that the general public will see through him.
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            1. R
              RAJIBABA
              Dec 10, 2016 at 4:07 pm
              SASHI YOUR COMMENT PLEASE ABOUT BLACK MARKET MONEY HOW TO RECOVER FROM YOUR FRIENDS
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              1. H
                Hedonist
                Dec 10, 2016 at 3:20 pm
                Who murdered Sunanda Pushkar?
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