Notes ban was legal robbery, China benefited instead of India: Manmohan Singh

 07 Nov 2017 ( IBTN News Bureau )
POSTER

On Tuesday, in India, former Prime Minister Manmohan Singh has targeted the Narendra Modi government on the notes ban, GST and Bullet trains.

Manmohan Singh said that both GST and notes ban are very dangerous steps for our economy.

They said that because of them the waist of our small investors has broken.

Addressing traders in Ahmedabad, Manmohan Singh said, "Tomorrow we will celebrate the first anniversary of the destructive policy which was imposed on the people of our country."

The former PM has termed 'black day' for the Indian economy and democracy on November 8.

He said, "I want to repeat what I said in Parliament. It was a planned robbery and legal robbery. "

Manmohan Singh described the notes ban on the hasty step without any hesitation and said that no goal of its achievement was achieved. In addition, he said that the compliance terms under GST have become a nightmare for small businesses.

Manmohan Singh said that Indians have imported more than China due to notes ban.

He informed that in the first quarter of 2016-17, India imported 1.96 lakh crore rupees, which was Rs 2.41 lakh crore in 2017-18.

He told GST and notes ban behind the unprecedented rise in imports, which grew 23 per cent in a year.

Simultaneously, Manmohan Singh also criticized the Narendra Modi government's Bullet Train project.

He said, "The bullet train project started with great fanfare is the exercise of ego. Has the Prime Minister upgraded the Broad Gauge Railway and thought about the options of High Speed Train?

Let us note that the notes ban will be completed on Wednesday (November 8). Last year, Prime Minister Narendra Modi had announced the closure of 500 and 1,000 old notes on 8th November. Opposition parties had strongly opposed this move of Prime Minister Narendra Modi.

Manmohan Singh also said at that time that this step would be dangerous for the Indian economy.

 

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