Former Prime Minister Manmohan Singh, who is highly known for not speaking much during his tenure, has condemned PM Narendra Modi’s demonetisation in India and called the economy as hollow.
India has seen from bad to worse following ban of high denomination notes in the country; he said adding that the country is yet to see the worse.
“The demonetisation move was disastrous. It hurt the country but the worst is yet to come,” Singh said while addressing Congress workers at the Jan Vedna Sammelan in Delhi.
All rating agencies had pared down growth estimates from 7.6% to 7% and as low as 6.3%. “As a consequence, employment in fall in agriculture and informal sector, which contributes 45% to the national income,” he further added.