Former prime minister Manmohan Singh is set to visit poll-bound Gujarat on Tuesday. He is expected to interact with traders and businessmen on issues like GST and current situation of economy.


COMMERCIAL BREAK
SCROLL TO CONTINUE READING

Ahead of his visit, the Congress leader attacked the Narendra Modi government over its economic policies like demonetisation. Terming the notes ban as a “catastrophic economic policy”, Singh warned that the move would aggravate inequalities and prove to be a "far greater social malaise" in a diverse country like India.


"Demonetisation has proved to be a catastrophic economic policy. The damage it has caused has been multiple fold - economic, social, reputational and institutional. Slowing GDP is merely one indicator of the economic damage. Its impact on the weaker sections of our society and business is far more damaging than any economic indicator can reveal," he told bloombergquint.com.


He also asked Prime Minister Narendra Modi to accept the "blunder" and work towards a consensus to rebuild the economy. Singh had earlier termed demonetisation as a monumental blunder and a case of “organised loot and legalised plunder”.


During his Gujarat visit, Singh will take part in an interactive session with those involved in businesses, and is expected to touch upon various aspects related to note-ban as well as the implementation of GST and its impact on the economy.


The former prime minister’s visit comes on the eve of the first anniversary of demonetisation, which the opposition has planned to mark as black day. Congress vice president Rahul Gandhi is also slated to visit Surat on November 8.


Congress-led opposition had decided to observe November 8, the first anniversary of demonetisation as a ‘Black Day’ across the country.


“Announcement made on November 8 is the scam of the century, which is why we are observing this as Black Day,” senior Congress leader Ghulam Nabi Azad had said while announcing the same on October 24.


"Demonetisation was an ill-conceived and hasty decision of the government. It is unprecedented, perhaps in the entire world, that a government had to alter its policy 135 times within a month," Azad had said.


Eighteen political parties will hold protests across the country over demonitisation and it's "ill-effects" on the economy. The party list includes Congress, RJD, Trinamool, SP, BSP, DMK, the Left and the breakaway JD-U faction.


(With agency inputs)