May 02, 2025 12:58 am (IST)
Follow us:
facebook-white sharing button
twitter-white sharing button
instagram-white sharing button
youtube-white sharing button
Air India will see a $600 million loss with Pakistan banning its airspace after Pahalgam attack: Report | Don't demoralise our forces: Supreme Court rejects plea seeking judicial probe into Pahalgam terror attack | PM Modi inaugurates WAVES, says right time to 'Create In India, Create For The World' | Kolkata fire: Hotel owner and manager arrested after blaze kills 14 | Pahalgam terror attack: US appeals to India and Pakistan to de-escalate border tensions | Pahalgam fallout: Instagram accounts of Mahira Khan, Hania Aamir, other Pakistani actors blocked in India | India shuts airspace for all Pakistani flights days after Pahalgam massacre | Bangladesh Supreme Court stays HC order granting bail to Chinmoy Krishna Das in sedition case | After Pahalgam terror attack, India warns Pakistan over 'unprovoked firing' along LoC: Report | PM Modi to skip Russia's Victory Day parade on May 9 in backdrop of Pahalgam attack

None of the objectives of demonetisation have been met: Manmohan Singh

| @indiablooms | Dec 03, 2017, at 12:40 am

Surat, Dec 2 (IBNS): Former Indian Prime Minister Manmohan Singh on Saturday said the objectives of  demonetisation have not been met by the government and the move has converted black money to white.

He said the poor people of the country have suffered due to the move.

"None of the objectives of demonetisation including curbing counterfeit money, rooting out black money have been met. On the other hand it converted black money to white while poor suffered," Congress tweeted quoting Singh.

"Demonetisation cost us 1.5 lakh crore in economy. GDP growth rate in 1st quarter fell to 5.7%. Even if the growth reaches to 6.7% in 2017-18, it is still less than UPA's 10 year average of 10.6%," he said.

Speaking on China, Singh, who served as the PM from 2004 to 2014, said: "China is benefiting from this blow to Indian Economy. In the first half of 2016-17, India's imports from China have gone up unprecedented."

Singh made the remarks while addressing professionals and businessmen in Surat.

The Centre had banned old Rs 500 and Rs. 1000 currency notes in Novemeber 2016.

Support Our Journalism

We cannot do without you.. your contribution supports unbiased journalism

IBNS is not driven by any ism- not wokeism, not racism, not skewed secularism, not hyper right-wing or left liberal ideals, nor by any hardline religious beliefs or hyper nationalism. We want to serve you good old objective news, as they are. We do not judge or preach. We let people decide for themselves. We only try to present factual and well-sourced news.

Support objective journalism for a small contribution.
Close menu