New Delhi: Economist and Former Prime Minister Manmohan Singh on Monday said that PM Modi should acknowledge the blunder of demonetisation on its anniversary on November 8. He said it had severely impacted the weaker section of the economy.
Singh said that current government should set their priorities right for rebuilding the economy, reports News 18. He termed demonetisation ‘an attack’ on the independence and credibility of RBI as an institution.
“It is unclear that these goals of the cashless economy will indeed help small enterprises become larger and achieve scale efficiencies. That should be our priority,” he said during an interview with BloombergQuint.
While mentioning about the GST, he said that its implementation threatens to derail the informal sector completely, that constitutes 40 percent of the Indian economy.
“We need to be able to achieve these objectives without any disruption to these small enterprises in their current form,” Singh told the news website.