Ridiculing the Centre’s demonetisation policy, senior Congress leader P Chidambaram today said many former RBI Governors had opposed the move, so the Modi government must have “consulted some RSS pracharak” before taking the decision.
He said the government’s move from demonetisation to ‘remonetisation’ was not “notebandi” but “notebadli”.
“…it is a decision taken without consulting those who should have been consulted. The Finance Secretary, the banking secretary and the Chief Economic Advisor were not consulted, so who was consulted?…they must have consulted some RSS pracharak,” Chidambaram said addressing a meeting of Telangana Pradesh Congress Committee here.
The former finance minister said a series of RBI Governors had opposed demonetisation for 27 years and none of them thought demonetisation was the answer.
“We had Raghuram Rajan as Governor for three years. He did not think demonetisation was the answer and he categorically told the government ‘no’..do not do demonetisation. Then, a new Governor (Urjit Patel) comes and in 64 days, he agrees for demonetisation,” he alleged.
Chidambaram said no major country has demonetised its currency in the last 50 years.
“History books will show that Zimbabwe, North Korea, Libya and…India demonetised its currency…It is a shame…May be this government thought these were the most prosperous countries in the world,” he said.
“First they (Centre) talked about demonetisation and now they are saying remonetisation. Of the 15.44 lakh crore worth money demonetised, every rupee has come back to RBI. Now you are remonetising. Why are you doing this? Why should you demonetise and then remonetise…this is not ‘notebandi’ but ‘notebadli’,” Chidambaram said.
He said he would have resigned as Finance Minister during his tenure, if the then Prime Minister had insisted on demonetisation.
“Why did you do it and what was the purpose of this exercise? Anyway, people are aware that this is the biggest scam of 2016,” Chidambaram charged. (MORE)
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