Lashing out at Prime Minister Modi over demonetisation drive, former Prime minister Manmohan Singh warned the country that the worst is yet to come.
Dr Singh was speaking at the Jan Vedna Sammelan called by the Congress to highlight the “disastrous impact” Prime Minister Narendra Modi’s demonetisation move has had on the people.
“Modi ji keeps on saying he will transform India’s economy. We know now that the beginning of the end has come…But the worst is yet to come,” Manmohan Singh said at a Congress convention in New Delhi.
“Demonetisation has hurt the country. Things have gone from bad to worse, but the worse is yet to come, said Dr. Singh, who is also a renowned economist.”
“Demonetisation has hurt the country very badly. Things have gone from bad to worse in the past few months. Some say the GDP can be as low as 6.3 per cent. We can imagine that what kind of a disaster demonetisation is,” Singh said.
“When the GDP goes down, then employments will fall , production will fall, agriculture income will fall. What a disaster this demonetisation has caused?” he said.
The former PM during a debate session in Parliament, last year , had called demonetisation “a monumental mismanagement” and “organised loot and legalised plunder”.
Last week, the government estimated that the Indian economy will grow at 7.1 per cent this fiscal.