November 10, 2017:

He also said it was due to Demonetisation that Indians had to go more for the Chinese imports.

Slamming Narendra Modi-led central government’s ‘twin blow’ to economy delivered through the demonetisation and Goods and Services Tax (GST), Former PM Manmohan Singh has said that both the initiatives are a complete disaster for our economy and broke back of all the small businesses.

Referring to the demonetisation in his address to a gathering of businessmen in Gujarat’s Ahmedabad, Singh he stated that,“8th November marked one year since the disastrous policy was thrusted on the people of our country.”

Former Pm further added that Govt. has not made a fresh assessment of the costs and the benefits, if any, of the move.

He termed November 8 as a ‘black day’ for Indian economy and the democracy.

He stated that,“I repeat what I said in Parliament, this was organised loot and a legalised plunder,” he said.

Comparing escalating rise in the India’s imports from China, Singh added that the Country’s import in the first half of 2016-17 stood at Rs 1.96 lakh crore, whereas in 2017-18 it increased to Rs 2.41 lakh crore.

Congress leader cited both demonetisation and the GST as main cause behind unprecedented growth of the imports, which rose by 23 per cent in a year.

Former PM wondered that if raising questions about the bullet trains made one anti-development, or questioning the GST or demonetisation made one a tax evader.

Source - ptinews.com