Begin typing your search above and press return to search.
After a century of Vaikom Satyagraha
access_time 29 March 2023 6:25 AM GMT
The new India of exclusion
access_time 28 March 2023 5:08 AM GMT
It doesnt end with Rahul hounding
access_time 25 March 2023 4:20 AM GMT
20 years after the Iraq war
access_time 24 March 2023 8:50 AM GMT
Womens Day: Building a digitally equal world
access_time 8 March 2023 4:38 AM GMT
Women must arise now and embrace equity
access_time 7 March 2023 10:52 AM GMT
The criminal case against Vladimir Putin
access_time 27 Feb 2023 9:46 AM GMT
Censorship that stifles free speech
access_time 24 Feb 2023 7:02 AM GMT
Homechevron_rightKeralachevron_rightDemonetisation, an...

Demonetisation, an ill-conceived strategy: Tharoor

Demonetisation, an ill-conceived strategy: Tharoor

Thiruvananthapuram: Former Union Minister Shashi Tharoor Saturday termed demonetisation as an 'ill conceived and mis implemented step' that has created chaos in the country.'

He made it clear he was not against the principle of demonetisation, but that Prime Minister Narendra Modi's currency replacement exercise "is an ill conceived and mis implemented one that has created chaos in the country.

One of the major drawbacks was not printing new notes in advance equivalent to the currency withdrawn, he said, inaugurating a bank officers union meeting here.

India being a country where 98 per cent of transactions takes place through cash, replacing the currency has resulted in a chaotic situation, the former UN diplomat said.

Tharoor also criticised the authorities concerned with lack of planning in printing the same size notes that had been withdrawn to suit existing ATMs.

The cash crunch due to currency replacement has caused 'immense suffering' to the common man and affected various sectors, including micro enterprises that contribute nearly 45 per cent to the GDP, the Congress MP from Thiruvananthapuram said.

One major fallout of the currency replacement was that foreign investors had withdrawn billions of dollars during post demonetisation, he said.

He also questioned Modi's claim that demonetisation would end black money, saying "the source of black money generation will remain. It will be generated in new notes also," he said.

Show Full Article
Next Story