Dr. Manmohan Singh Speech in Rajya Sabha

Dr. Manmohan Singh​, one of the greatest Indian economists of recent times, who has been an former RBI Governor,Finance Minister and 2 term PM, rightly criticized Modi govt and demonetization.

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He remarked that the GDP of the country could shrink by 2% points due to the way it has been implemented and  the demonetisation of high value currency notes has caused great distress to the common man of the country. What @Dr. Manmohan Singh said is nothing revolutionary, but what we learnt in the basic Economics. His words are succinct, studied, and based on observations that no one can dispute at this hour.
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I am completely agree with the speech. This is exactly what we need, a logical and pragmatic discourse between the Government and the opposition. The best part is he spoke without reading and were his own thoughts.  No matters which political party he belongs but i simply believes in him just because Collective IQ of all modi cabinet is still low than Dr. Manmohan Singh
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In the simple words Dr. Manmohan Singh is most respectable finance minister ever, know more economics than BJP all together.  For  a long time even I thought that this person i.e. our former prime minister doesn't know how to speak but after keenly listening to himat various occasions, I now think that 'People with great minds don't speak much'.
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If the Modi Government had even 10% understanding of the Indian economy that Dr. Manmohan Singh has, they would have not gone through with this move. Best Question he had raised to modi was "I would like to know from the PM, names of any countries he may think of where people have deposited their hard earned money in banks but are not allowed to withdraw it..."
Watch his speech- https://youtu.be/pGoGMfib1G0
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Relevant issues he had raised during his speech was, "The way Demonetisation has been implemented, it will hurt the agriculture sector, small industry and people in the informal sector. Demonetisation is case of organised loot and legalised plunder. Till now 60 to 65 people have lost their lives"
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Congress is definitely corrupt party, but we have to believe that this guy is true intellect & one of the best economist in the world. He has avoided the worst economical circumstances of 1991.The time when no country had succeed to do so. Whenever he speaks he  makes complete sense. Whole world listens when Dr. Manmohan Singh speaks said by Barack Obama​. Even jaitly went to his house regarding advice for government budget. He is the most qualified prime minister ever in the world but sadly politics of congress degraded his image
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-Regards
Bunny 

Demonitisation -Implementation is total failure, which is in turn failure of bureaucracy and politicians and RBI.

Demonitisation of India Currency

Let believe Demonitisation of the Indian currency is the historical move against corruption. No doubt it will boost deposit base and savings. But ground reality is so different. As Rs 500 and 1,000 notes can no longer be used for transactions in currency causing inconvenience & great financial crisis on middle class of the country.

Yes we should support the Demonitisation, because everyone wants corruption-less country with smooth and transparent services which are being victims of corruption. However good this policy is, the implementation is total failure, which is in turn failure of bureaucracy and politicians and RBI.

Till now 25 people died in bank lines, its failure of implementation of Policy. We should understand making of any govt policy or scheme is for the benefit of the peoples & to enhance peoples life standard. Policies are always for the people, people are not for policies.

After 10 days of my cashless transaction, today finally i had went to bank for depositing some money in my account at our home branch of SBI. It was Friday. OMG such a crowd i had never seen in bank before. Their was no place to stand, just outside the bank gate.

I was so disappointed by seeing some totally helpless aged mans and women's, who were illiterate. Me and some volunteers helped them for filling the deposit and withdraw sleep and offering water at queue.

After talking with some peoples which were with me in queue i had understands their need and how money is important for them at this time only. From today banks are allowing only 2000/- to withdraw. This is common sense how a common can man serve his family with 2000. And if you say he can withdraw 2000/- on next day or 24000/- in week as govt declared, but point is people also have their own work. Everyday they can't come in the bank just to withdraw 2000/- . On this moment i had realised govt totally failed to handle the situation and to implement this scheme.

The big fish don’t keep cash. They have Swiss banks and they can also transfer their cash to foreign tax havens via hawala agents . Small traders and property dealers will only lose money. Which they will anyways recover from public by increasing prices. It will now require half the space to store black money in denomination of 2000.

Some expect saying, Demonitasion will increase growth in GDP. Yeah will see what happens in economic and GDP growth but ground reality is, on this circumstances people not getting food for 2 times, they are standing in queue for hours, almost for half days and in some cases for full days. At this moment who cares about GDP? What people need is basic facility and services which they deserve.

The conclusion is that only small fishes of black money would get caught but big giants will be saved by their protector. You know everyone knows that black money is converted in other forms such as gold and shares or property then how will such converted black money be returned. People saying they hate this decision as it had caused inconvenience to them and their family and many others too.