‘Worse of Demonetization Yet to Come’: Manmohan Singh

New Delhi, 11 Jan 2017: Amid speculation of a dip in the country’s GDP in the wake of demonetization, former Prime Minister Manmohan Singh warned the people on Wednesday that the worse was still to come.
In his address at the ‘Jan Vedna’ conclave, Singh termed demonetization as a “disaster” and said things were going from bad to worse and that the worse was yet to come. He dismissed as “hollow claim” Prime Minister Narendra “Modi’s propaganda” that things have started looking better.
The former Prime Minister said it was the “solemn duty” of all Congress men to tell the people the wrongs that have been done by Modi and that a “clarion call” should be given to the countrymen to “awake and rise” up in protest. Both Singh and Chidambaram said there would be decline in the country’s gross domestic product (GDP) because of demonetization.
Given the bad effect of demonetization on the small and micro sector, Manmohan Singh’s warning cannot be ignored. As per reports a large number of daily wage earners and people working in unorganized sector have lost their livelihood.
Key words: Demonetization, Narendra Modi, Manmohan Singh, GDP, Congress

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