New Delhi
\nThe Congress has mounted a sharp attack on Prime Minister Narendra Modi\u2019s demonetisation exercise with former Prime Minister Manmohan Singh stating the havoc of the move on the Indian economy and society was now evident to everyone with its \u201cscars and wounds…getting more visible with time\u201d.<\/p>\n
Congress president Rahul Gandhi described it as a \u201ccarefully planned, criminal financial scam\u201d while the party suggested a probe into the exercise alleging it to be the \u201cbiggest scam\u201d and predicting that for \u201cthis reckless decision, people would be handing down a punishment to PM Modi in elections\u201d. The party announced a nationwide protest on Friday, coinciding with second anniversary of the move.<\/p>\n
\u201cToday is a day to remember how economic misadventures can roil the nation for a long time and understand that economic policy making should be handled with thought and care,\u201d Manmohan Singh said.
\nHaving characterised demonetisation as an \u201corganised loot and legalised plunder\u201d, the former PM emphasised it was \u201cill-thought\u201d. Notebandi impacted every single person, he said.<\/p>\n
Small and medium businesses that are the cornerstone of economy are yet to recover from the shock. This has had a direct impact on employment as the economy continues to struggle to create enough new jobs for youth.<\/p>\n
The financial markets are volatile as the liquidity crisis wrought by demonetisation is taking its eventual toll on infrastructure lenders and non-bank financial services firms. The country is yet to understand and experience the full impact of the demonetisation exercise, he said, adding that with a depreciating currency and rising global oil prices, macro-economic headwinds are also starting to blow now.<\/p>\n","protected":false},"excerpt":{"rendered":"
New Delhi The Congress has mounted a sharp attack on Prime Minister Narendra Modi\u2019s demonetisation exercise with former Prime Minister Manmohan Singh stating the havoc of the move on the Indian economy and society was now evident to everyone with its \u201cscars and wounds…getting more visible with time\u201d. Congress president Rahul Gandhi described it as […]<\/p>\n","protected":false},"author":1,"featured_media":46730,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"inline_featured_image":false,"footnotes":""},"categories":[312],"tags":[],"class_list":["post-46729","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-india"],"_links":{"self":[{"href":"https:\/\/blastingskyhawk.com\/english\/wp-json\/wp\/v2\/posts\/46729","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/blastingskyhawk.com\/english\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/blastingskyhawk.com\/english\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/blastingskyhawk.com\/english\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/blastingskyhawk.com\/english\/wp-json\/wp\/v2\/comments?post=46729"}],"version-history":[{"count":1,"href":"https:\/\/blastingskyhawk.com\/english\/wp-json\/wp\/v2\/posts\/46729\/revisions"}],"predecessor-version":[{"id":46731,"href":"https:\/\/blastingskyhawk.com\/english\/wp-json\/wp\/v2\/posts\/46729\/revisions\/46731"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/blastingskyhawk.com\/english\/wp-json\/wp\/v2\/media\/46730"}],"wp:attachment":[{"href":"https:\/\/blastingskyhawk.com\/english\/wp-json\/wp\/v2\/media?parent=46729"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/blastingskyhawk.com\/english\/wp-json\/wp\/v2\/categories?post=46729"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/blastingskyhawk.com\/english\/wp-json\/wp\/v2\/tags?post=46729"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}