103rd Day Of Lockdown

Maharashtra2000641080828671 Tamil Nadu107001605921450 Delhi97200682563004 Gujarat35398254141926 Uttar Pradesh2655418154773 Telangana2231211537288 Karnataka215499246335 West Bengal2123114166736 Rajasthan1953215640447 Andhra Pradesh176998008218 Haryana1654812257260 Madhya Pradesh1460411234598 Bihar11457848888 Assam9800632814 Jammu and Kashmir82465143127 Odisha7316535333 Punjab56683989149 Kerala4594243626 Chhatisgarh3065241414 Uttarakhand2791190937 Jharkhand2339160512 Tripura140110931 Manipur13166390 Goa11984783 Himachal Pradesh9796179 Puducherry73930112 Nagaland5351820 Chandigarh4593956 Arunachal Pradesh252751 Mizoram1601230 Sikkim101520 Meghalaya50421
Nation Current Affairs 13 Dec 2016 Note ban biggest sca ...

Note ban biggest scam of the year, must be investigated: Chidambaram

Published Dec 13, 2016, 11:48 am IST
Updated Dec 13, 2016, 12:03 pm IST
Even a natural calamity might not cause so much of trouble, said Chidambaram.
Finance Minister Arun Jaitley with former UPA minister P Chidambaram. (Photo: PTI)
 Finance Minister Arun Jaitley with former UPA minister P Chidambaram. (Photo: PTI)

New Delhi: Congress leader and former Finance Minister P Chidambaram on Tuesday called demonetisation ‘the biggest scam of the year’, while attacking Prime Minister Narendra Modi for not taking the Opposition into his confidence over the move.  

This is the biggest scam of the year and must be investigated,” P Chidambaram said, while addressing a press conference in the national capital.


He wondered why Modi did not bother to consult eminent economists like Manmohan Singh on the issue.

“Government should have consulted at least Yashwant Sinha, he is their own man. They could have consulted Mr Manmohan Singh. Are they suggesting that the former PM if consulted by the present Prime Minister will betray a secret?” he said.

Chidambaram said the confidence in Indian economy has been severely dented by the number of measures undertaken by the current government and said demonetisation was the primary reason.

“Even a natural calamity might not cause so much of trouble.  This is an illusion that it is intended to hurt the rich and benefit poor. I don't see any rich man getting affected,” he said.

He argued that just because people are not protesting the move does not mean they approve the step taken by the government. He also attacked the government for constantly changing the reasons for the move, the latest being that it was done to make India a cashless economy. 

"To assume that India will go from 3% to 100% cashless in a matter of few months is an outlandish expectation. Which country has cashless economy? Does US? Does Singapore have it? Where is electricity in country? Where are the machines?" he asked.

"Every bank says ‘no cash’, so how does the govt say there is cash? This is why Dr Manmohan Singh said monumental mismanagement," he said.

Location: India, Delhi, New Delhi