Demonetisation: Manmohan calls it 'organised loot'; Jaitley terms it as a 'watershed moment'

Demonetisation: Manmohan calls it 'organised loot'; Jaitley terms it as a 'watershed moment'
On the eve of the first anniversary of the demonetisation exercise, the Centre and Opposition locked horns on Tuesday. While the BJP has already announced to observe November 8 as 'anti-black money' day, the Congress has decided to observe the day as as 'black day'.

Describing the BJP-led government's demonetisation exercise as a reckless step, former prime minister Manmohan Singh today said scrapping higher value currency notes was organised loot and legalised plunder.

Contesting the Cambridge-trained economist, Finance Minister Arun Jaitley said the exercise was an "ethical drive and a moral step" that made corruption difficult. He referred to demonetisation as a watershed moment in the history of the Indian economy

Calling the note ban a "reckless" exercise, Manmohan Singh said during an interactive session with businessmen and traders in Ahmedabad that "demonetisation was an organised loot and legalised plunder".

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