In Rajya Sabha, a debate is conducted on Demonetization of notes. In that, our former Prime Minister Manmohan Singh said “this demonetization is the biggest monumental management failure.”
“I do not disagree with strategy, many poor people are suffering with this decision,” said Dr. ManmohanSingh
Dr. Manmohan Singh has expressed his views on banning Rs 500 and 1000 notes in Rajya Sabha on behalf of Congress party. This will show much effect on agriculture and economic growth. The GDP of the country will decrease to 2% for the thing done by the Narendra Modi, and he also said it is underestimate rate and still we can see more fall in Gross Domestic Product.
Winter sessions are started in the parliament. The opposition attacked strongly on the BJP party for economic situations we are facing in the country.
After banning of notes, there is the shortage of cash. People are standing in front of banks and ATM’s for hours. Especially common people are getting suffered due to this process. Govt has introduced withdrawal limit for a day, so they are not unable to draw the sufficient amount of money.
Banks are filled with cash flood, up to now only SBI has collected Rs 1.27 trillion cash deposits and all banks above 4 trillion cash collected
Dr. Singh stated “PM Modi said wait up to 50 days to complete his crackdown on black money but 50 days is a long time for the poor people, many distractions situations can occur. “He blamed the poor performance of govt.