3 months Free Trail

Get world class research developed by an in house team of professionals backed with strong institutional support. With reports that span across time horizons, styles and easily actionable strategies, you are never too far from executing a winning trade.

Key features and benefits of Registeration :
  • My Portfolio : Access 360° View not only of your Portfolio with Emkay, but all your Investment Portfolios
  • Emkay Research : Get Emkay's exclusive Research Reports & Trading Ideas.
  • My Watch list : Track your favorite stocks, Derivatives, Currencies, Commodities, Mutual funds on the go
  • Markets : Grab Stock Market Information at your fingertips
  • News & Announcements : Stay Updated 24x7 with news that matters.
  • Alerts : Get Alerts on Emkay Research, Trading Ideas, news on your portfolio holdings & watchlist

Forgot password

Change password

Forgot Customer Code

Demonetisation is organised loot, legalised plunder: Former PM

Share Source By

Dion Global

24 Nov 2016

Speaking on the NDA government’s demonetization move, Former Prime Minister Manmohan Singh castigated the government and the Prime Minister over the move on Thursday in Rajya Sabha, saying that its implementation was a monumental management failure and a case of organised loot and legalised plunder, as per the media reports.

Manmohan Singh spoke in the presence of Prime Minister Narendra Modi in Rajya Sabha.

He said the decision will result in decline of GDP by 2 per cent, it being an under-estimate, as per the PTI report.

Singh hoped the PM will find a practical and pragmatic decision to mitigate the sufferings of the common man and the poor who have been in distress after the decision, added the media reports.

According to Singh, agriculture, unorganised sectors and small industry has also been hit hard by it and people were losing faith in the currency and the banking system.

“These measures convinced me that the way the scheme has been implemented, it's a monumental management failure. And in fact, it is a case of organised loot and legalised plunder,” Singh said.

He, however, added that, “It is not my intention to pick holes what this side or other side does. But I sincerely hope that the PM even in this late hour will help find us practical and pragmatic ways to provide relief to the suffering of the people of this country.”