Worst is yet to come, says Manmohan Singh on PM Modi’s demonetisation move

Congress vice-president Rahul Gandhi, former finance minister P Chidambaram and other senior party leaders addressed the session at Talkatora Stadium in the national capital.

Written by Aaron Pereira | New Delhi | Updated: January 11, 2017 5:13 pm
mamohan singh, congress manmohan singh, manmohan singh demonetisation, congress demonetisation, manmohan singh on demonetisation, rahul gandhi, chidambaram, india news Manmohan Singh was speaking at the Jan Vedna Sammelan called by the Congress to highlight the “disastrous impact” of PM Modi’s demonetisation move. (Source: ManmohanSingh/Twitter)

Former prime minister Manmohan Singh on Wednesday said the impact of demonetisation was being felt across the country but the worst was yet to come. “Demonetisation has hurt the country. Things have gone from bad to worse, but the worse is yet to come.”

“I’ve said it before in Parliament… demonetisation will have an impact on the economy. Some rating agencies have said the GDP could slow down to 6.6 per cent,” the former prime minister said in his brief address. “Modi ji keeps saying he’s out to transform the economy. We now know the beginning of the end has come. His claims are hollow.”

Dr Singh was speaking at the Jan Vedna Sammelan called by the Congress to highlight the “disastrous impact” Prime Minister Narendra Modi’s demonetisation move has had on the people. Congress vice-president Rahul Gandhi, former finance minister P Chidambaram and other senior party leaders addressed the session at Talkatora Stadium in the national capital.

Also read |  Demonetisation will cause loss of Rs 1.5 lakh crore to GDP: P Chidambaram

Earlier in the day, Rahul said, “Demonetisation is just an excuse. PM Modi knows that he won’t be able to hide in the garb of Yoga and Make in India. When he got worried, he broke the backbone of the Indian economy (through demonetisation),” said Gandhi. “Almost every economist of repute has rebuked demonetisation.”

2.5 saal pehle Modi ji aaye kaha Hindustan ko saaf kardunga, sabko jhaadu pakdaya. Fashion tha, 3-4 din chala phir bhool gaye (Two-and-a-half years ago, Modi government had said they will clean India. They gave brooms to everyone. It used to be fashionable. It continued for some time, then they forgot about it),” said the Congress leader in reference to the government’s flagship Swacch Bharat Abhiyan.

Chidambaram too strongly criticised the note ban saying it would affect the GDP adversely. He also questioned who would compensate those who have lost their lives and livelihoods due to the Modi government’s decision. “I demand that the government pay compensation to the daily wage workers who lost their livelihoods,” he said, adding that 45 crore people lost their livelihood for 70 days “due to one man’s decision.”

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  1. A
    Ash
    Jan 11, 2017 at 11:14 am
    If I wanted a few favours from this govt I would praise anyone too.Why should a foreigner care to speak his mind.lt;br/gt;USA refused to give Modiji a visa for 9 years.lt;br/gt;When they saw there is a chance he can win,they reached out to him.
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      Ash
      Jan 11, 2017 at 11:11 am
      Suggest you give some educated arguments.
      Reply
      1. A
        Ash
        Jan 11, 2017 at 11:19 am
        At least spell your name right.People won't take u seriously if u can't spell your name.
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        1. A
          Ash
          Jan 11, 2017 at 8:42 am
          We need to bring back a govt which a backing of a large no of educated,qualified people who don't talk in hyperboles. Need a slow and steady rate of growth,not this daily dose of disruptive change. This Govt is more interested in being the first in something or the other.More interested in fooling people ,such as how demonitisation will be good for the poor.The poor lost jobs,and are continuing to loose jobs.Businesses failed.
          Reply
          1. S
            Sidhartha
            Jan 11, 2017 at 11:42 am
            He has been misunderstood.Actually his "worst is yet to come" remark was for congress and was meant to be a hidden warning for RG.
            Reply
            1. S
              Sidhartha
              Jan 11, 2017 at 2:03 pm
              Its only a common man ,a chaiwalla, who can understand and uplift the common man.Phds and scholars are only worth giving lectures and advices which are theoritical and not practical.
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              1. I
                indian
                Jan 11, 2017 at 10:15 am
                The worst is yet to come.....only for the congress party. Mr. Singh, stop reading the script provided to you by your bosses and explain how the country was systematically scammed under your nose - Adarsh, 2g, coal, cwg, Augusta westland, air india, isro-antrix.
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                1. I
                  Iqbal kazi
                  Jan 12, 2017 at 6:04 am
                  Modi has incorporated with US and adopted jewish policy to damage the beautiful India.lt;br/gt;still we are very strong and powerful and patient compared to world .Will keep up doing best for Hindustan
                  Reply
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