Even Natural Calamity would not cause such pain: Chidambaram on notes ban

Mangalore Today News Network

New Delhi, Dec 13, 2016 :  Former Finance Minister P Chidambaram today described the notes ban as the "worst attack on the poor" and said "even a natural calamity would not cause such pain."

 

Referring to a series of raids across India in which brand new Rs. 2,000 notes have been found, Mr Chidambaram also called it the "biggest scam of the year".

The Congress leader said most people, including him, were struggling to get cash because it was not available in banks and ATMs.

"How are these people getting Rs. 2,000? This is the biggest scam of the year. This is the one that should be investigated," Mr Chidambaram said, referencing former prime minister Manmohan Singh’s descriptor of a "monumental disaster" for the currency ban.

Reacting to the comments, Union Minister Venkaiah Naidu said: "Give suggestions in parliament, not outside."


Mr Chidambaram accused Prime Minister Narendra Modi of "shifting goalposts" by initially pitching demonetization as a move to check tax evasion and then talking about cashless economy. "In his November 8 speech PM Modi mentioned the word black money 18 times. In his two speeches on November 27 he mentioned black money 8 times and cashless economy 27 times," he commented.

Mr Chidambaram’s Congress party is one of the sharpest critics of the announcement on November 8 of the ban on Rs. 500 and Rs. 1,000 notes, which took away 86 per cent of the cash in circulation. This morning, the party’s number two leader Rahul Gandhi protested at a market in Uttar Pradesh.

No country, Mr Chidambaram said, has a completely cashless economy. "Does US? Does Singapore have it? Where is electricity in country? Where are the machines?" he questioned.

"It has broken the back of poor people. It is a case of khoda pahaad, nikli chuhiya (much ado about nothing)."

Mr Chidambaram called demonetisation a "thoughtless, meaningless" move that he said would damage 45 crore people of the country who depended on daily wages.

Courtesy: NDTV