Demonetisation biggest scam of 2016, must be probed: Chidambaram

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chidambaram, File Photo

New Delhi, Dec 13, 2016: Former Finance minister P Chidambaram on Tuesday lashed out at the Narendra Modi government by calling the scraping of Rs 1000 and Rs 500 notes as the “biggest scam of the year” and demanded that it be investigated.

Addressing the media at an event in Nagpur, Chidambaram said: “This is the biggest scam of the year and must be investigated.”

“Every bank says there is no cash. So how does the government say there is enough cash? That is why Dr Manmohan Singh called demonetisation a “monumental mismanagement”,” he said.

Chidambaram added that “Government should have consulted at least Yashwant Sinha, he is their own man. They could have consulted Renowned Economist Manmohan Singh. I believe people will not forget what is being done to them and will not forgive the government for it.”

He also raised the question that Which country has the cashless economy? Does US? Does Singapore have it? Where is electricity in the country? Where are the machines?

You can’t trivialise a major blow to India’s economy. I am sorry that Prime Minister Narendra Modi is trivialising a major development in Indian economy. I am affected. I am not being able to get my Rs 24,000 and therefore I am complaining, he said.

The senior Congress leader also asked how a large amount of money is being found in multiple raids in the last two weeks.

“I cannot get Rs 2000 notes. How did crores in Rs 2000 notes find their way to individuals being raided all over the country?” he asked.

Chidambaram spent a good part of his press conference to red flag the crisis in cooperative banks, which have been denied access to the new notes.

“Why are district cooperative central banks kept out of this whole exercise? Keeping out cooperative banks is punishing farmers. There is no money for them to buy supplies,” he said.

 Wefornews Bureau

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