what was the opinion of Dr. manmohan singh on demonetisation?
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Scars of demonetisation are more visible with time: Dr Manmohan Singh
1 min read . 08 Nov 2018
Staff Writer
Describing demonetisation as an “ill-fated and ill-thought” exercise, Dr Manmohan Singh said the havoc that it unleashed on the Indian economy and society is now evident to everyone.
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HomeAll India"Scars Only Getting More Visible With Time": Manmohan Singh On Notes Ban
हिंदी में पढ़ें
"Scars Only Getting More Visible With Time": Manmohan Singh On Notes Ban
The ruling BJP countered opposition comments on demonetisation with its own statistics, asserting that it led to India's highest ever unearthing of suspicious transactions and deposits.
All India Reported by Sunil Prabhu, Edited by Deepshikha Ghosh
Updated : November 08, 2018 12:22 pm IST


Highlights
Notes ban was an "ill-fated and ill-thought exercise": Manmohan Singh
It will be remembered for government's economic misadventure, he said
Cash ban made it difficult to evade taxes, pushed e-transfer: Jaitley
New Delhi:
Former prime minister Manmohan Singh today shared his scathing assessment of demonetisation as intense political sparring between the government and the opposition marked the second anniversary of the cash ban. "It is often said that time is a great healer. But unfortunately, in the case of demonetisation, the scars and wounds of demonetisation are only getting more visible with time," he said in a statement.
"I urge the government to restore certainty and visibility in economic policies. Today is a day to remember how economic misadventures can roil the nation for a long time and understand that economic policymaking should be handled with thought and care," said the former prime minister.
Finance Minister Arun Jaitley, in a strong defence posted on Facebook, called the notes ban a "key step in a chain of important decisions taken by the government to formalize the economy". The cash ban had also made it difficult to evade taxes, pushed digital transactions and helped improve tax collection, he said.
Manmohan Singh, calling Prime Minister Narendra Modi's overnight ban on Rs 500 and 1,000 notes on November 8, 2016, an "ill-fated and ill-thought exercise", said "the havoc it unleashed on the Indian economy and society is now evident to everyone." The cash ban, he said, impacted every single person, regardless of age, gender, religion, occupation or creed.