Dr Singh called demonetization an organized loot, another economist Steve Hanke called it theft of public money !
The fact is, so much money wasn't supposed to come back, but the banks got flooded with money thanks to colluding bank officials.
Arvinda Panagariya doesn't say why he is blaming the banking officials ! Are they guilty of posting more deposits than collected? Has someone reconciled the deposits with collections by counting the notes. Everyone knows something was going wrong, so they everything to stem the tide of notes, pulling back the dates, amounts, withdrawal limits..
Personally, as a salaried and middle class individual, with a certificate of appreciation for paying taxes, I didn't feel the pinch, except watching the misery. I feel particularly bad for those who sweated it out in the queues and even more for those who lost their livelihood.
The damage has been done, the coming generation will suffer the consequences of low or stagnant growth worsened with global recession.
Even Manmohan Singh can do nothing - there is nothing to devalue, no sector to attract FDI. We need grass root level rejuvenation.
Re: Demonetization is organized loot, theft
by RAMAN GOPAL on Feb 09, 2017 12:01 AM
A another economist in the league of great obedient prime minister Dr. Manmohan singh.
Re: Re: Demonetization is organized loot, theft
by nationalist on Feb 09, 2017 07:20 AM
Organized loot etc is fine. Reply in same language and they start saying uncivilized language etc -:)
This Manmohan Singh, the only unelected and unelectable PM this vountry had for 10 years, under whose wstch all scams including CWG, 2G, Adarsh, Coalgate, Vadera land deals, Agusta, Rsil Recruitment scam etc etc took place. Yet this chap has guts to show his face in ounlic.
Re: Manmohan Singh.....
by () on Feb 08, 2017 10:27 PM | Hide message
Scams did not keeel humans but modi's silence on c0w raaakshaks keeeled many both from d_a_lits and min000rities.
Re: Manmohan Singh.....
by Bharat Kumar on Feb 08, 2017 11:56 PM
If you are able to use Internet, that is because Manmohan Singh released India from license raj! Otherwise, we would have been still in stone age.
by the way, the current finance minister tried very hard to get elected, but couldn't. Navjot Sidhu's seat was considered safe and was given to him. But arun jaitley lost it to an eccentric captain.
Winning by large margins? Even Ram Vilas Paswan won by 4 lakh margin.
Winning elections doesn't give anyone a right to speak arrogantly
Re: Manmohan Singh.....
by nationalist on Feb 09, 2017 07:22 AM
So anything which does not keel is fine for you? People would have been in much better condition if those scams did not happen and was used for people. Worse than killing making them suffer
A fake will remain fake always. Just quote one economist of standing who studied economy unlike eighth fail Baba Ramdev who sated that the demonitisation has ended black money and corruption. By disallwing cash trasaction in political donation and high value trasactions like purchase gold, properties, vehicles, star hotel bills, airfare, tour packages and other high value transactions where generally unaccounted money were spent have yielded more benefecial result than a foo;ish step banning everybody's money. Moreover, now, audacity of justifying it.
Re: Fake
by RAMAN GOPAL on Feb 09, 2017 12:05 AM
All economists good in calculation and give good presentation but always fail to implement his thought but a practical and understandable politician is always far better in implementation.
Re: Modi barb
by Krunal Gajjar on Feb 08, 2017 09:41 PM
use your five senses properly and perhaps you may learn that who are tainted and can't takes it back...
Re: Modi barb
by () on Feb 08, 2017 10:28 PM
Is there any doubt about him? When you look closely at projected figures of development in Gujarat, they seem all fake. Gujaratis shifted to Maharahstra and having good life. If Gujarat was vibrant, people would flock there instead of going to Mumbai.
Re: Modi barb
by nationalist on Feb 09, 2017 07:30 AM
Do you think anybody admitted till now? Any politician for that matter? Even a raja says he is a Saint -:) how did you read this from his speech only you know though -:)
