Nitish Kumar's U-turn on Demonetisation, says it was a monumental blunder

Kumar's comments assume significance as he was one of the most vocal supporters of PM Modi's demonetisation drive even as rest of opposition had not sided with him.

In a significant change of stance on the issue of demonetisation, Bihar Chief Minister Nitish Kumar echoed sentiments of former prime minister Manmohan Singh dubbing note-ban as a monumental blunder.

“Manmohan Singh was right when he said demonetisation was monumental mismanagement. The Centre has to tell us what the benefit from demonetisation was. They can’t divert the issue,” NItish told reporters at a book launch function of former finance minister, P Chidambaram.

Underlining that the cashless economy didn’t work anywhere, the Bihar CM questioned,” When nowhere in the world cashless or less cash economy has worked, how will it work in a country like India?” He also stressed that unity in opposition is the need of the hour.

Kumar’s comments assume significance as he was one of the most vocal supporters of PM Modi’s demonetisation drive even as rest of opposition had not sided with him.

Prime Minister Narendra Modi in a televised address on 8 November introduced the demonetisation of high valued notes of Rs 500 and Rs 1000.

 

 

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