Former PM Manmohan Singh criticised PM Modi for the manner in which demonetisation was implemented (File)
Highlights
- Parliament debates PM's abrupt cancellation of high denomination notes
- Dr Manmohan Singh bills it 'monumental management failure'
- Government says public supports the reform to end black money
After a short but precise speech in which Dr Manmohan Singh said the government's mishandling of the ban on high-denomination notes amounts to "organised loot, legalised plunder," Prime Minister Narendra Modi walked over to his predecessor and shook hands when parliament broke for lunch.
The Prime Minister, accompanied Finance Minister Arun Jaitley, was also seen talking to senior Congress leaders Ghulam Nabi Azad and Anand Sharma along with other opposition members who have attacked his reform aimed at fighting black money.
With the opposition remaining adamant that the PM must speak on demonetisation in Parliament, the government agreed that PM Modi will speak on the issue in the Rajya Sabha, where the government is in a minority.
That allowed the debate, which had begun on Wednesday, to resume.
Dr Singh said that though he agrees with the PM's intent to flush out black money, the implementation of his initiative, which has forced long lines at banks for nearly two weeks, amounts to "a monumental management failure."
That is also what other opposition leaders have alleged, arguing that a move meant to punish the corrupt and rich who hoard black money has left the poor in rural India, including farmers, stranded without cash.