'Monumental mismanagement has been undertaken in implementation of demonetisation,' Singh said.
Delhi: As Prime Minister Narendra Modi on Thursday attended the Rajya Sabha, the Opposition began the debate on demonetisation, with veteran Congress leader and former Prime Minister Manmohan Singh slamming the government over the implementation of the move to scrap Rs 500 and Rs 1000 notes.
"It is not my intention to pick holes what this side or other side does. But I sincerely hope that the PM even in this late hour will help find us practical and pragmatic ways to provide relief to the suffering of the people of this country," he said.
"These measures convinced me that the way the scheme has been implemented, it's a monumental management failure," the noted economist said, adding the decision will result in decline of GDP by 2 per cent, which was an "under-estimate and not an over-estimate".
Slamming the government move, Singh said, "in fact, it is a case of organised loot and legalised plunder."
The former prime minister said that it was also important to take note of the grievances of the people’s suffering. “60-65 people have lost their lives, what has been done can weaken our people's confidence in currency and banking system,” Singh said.
"Well, 50 days is a short period, but for those who are poor and deprived sections of the community even 50 days of torture can bring about disastrous effect. And that's why about 60 to 65 people have lost their lives. Maybe more.
"What is more is, what has been done can weaken and erode our people's confidence in the currency system and in the banking system," the former prime minister said.
“I want to ask PM that can he name any country where people have deposited their money but are not able to withdraw it. PM must come with some constructive proposal how we can implement the scheme,” the former prime minister said in the Rajya Sabha.
The opposition parties had earlier created a ruckus in the Rajya Sabha, demanding that Modi attend the debate on the issue of demonetisation, leading to the adjournment of the House till 12 pm.
Finance Minister Arun Jaitley had slammed the Congress, TMC and other parties for stalling the proceedings of the Rajya Sabha.
“If it is on demonetisation issue, let opposition resume the debate. If there is no debate, nobody from the opposition is going to be allowed to speak,” Jaitley said in the Rajya Sabha.
As the Opposition continued their protest over note ban issue, Speaker P.J. Kurien clarified that the debate on demonetisation would take place later in the afternoon, indicating that Modi would be present then.
Meanwhile, Lok Sabha was adjourned for the day following uproar over the demonetisation issue.
Earlier, reports suggested that the Prime Minister will attend the Winter Session of Rajya Sabha on Thursday. The Opposition has been stalling the proceedings of Winter Session of Parliament, demanding Modi to speak of the government’s move to scrap Rs 500 and Rs 1000 notes.
Top BJP leaders held a meeting at Rajnath Singh's chamber in Parliament on Thursday as the government attempted to find a truce with a united opposition just before the session began. Another round of meeting was held at Prime Minister Narendra Modi's chamber.
