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Demonetisation absurd, thoughtless move and biggest scam: P Chidambaram

New Delhi/ Nagpur: Congress leader and former Finance minister P Chidambaram has termed the demonetization as the biggest scam of the year. He said that instead of hurting scamsters and hoarders of black money, the sudden notebandi has hit the poor very hard.

Chidambaram who is a renowned economist went on to add that “not even a national calamity would have caused so much suffering”.

Several time union minister who has also served the nation as union home minister too attacked the Modi government from the bastion of Sangh Parivar in Nagpur.

currency-recall

The scathing attack from one of the tallest Congress leaders comes merely days after another serious attack by none other than Manmohan Singh who said that the demonetization will be destructive for the entire nation and besides hardship to common people will destroy the economy.

Chidambaram while addressing a press conference in Nagpur said, “This is an absurd, thoughtless move, and no one in the world has a good word for it. Every major newspaper and economist has condemned it…Government should have consulted at least Yashwant Sinha, he is their own man. They could have consulted Mr Manmohan Singh. There are over a 100 officers involved in budget making, till today its never leaked. What secrecy is this?”

He said that instead of bringing any benefit to the nation, it will prove destructive. “Has this stopped corruption, black money? The objective is not being served by this. Only poor people are being punished…It is no longer about black money… now they have found a new one called cashless economy”.
Chidambaram added that to assume that a poor country like India will go from 3 per cent to 100 per cent cashless, in a matter of few months, is a bizarre idea. “It is like motherhood and apple pie. No one speaks against them, similarly no one will speak against cashless society”, he added.

He said that the government had no idea about the quantum of cash that will be needed to fulfill the demand following the notebandi. “What calculations did the government do to say that one can withdraw Rs 24,000 when banks don’t have enough cash to dispense? 45 crore people have been affected due to this, who will compensate them?”, the former finance minister said.

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