Modi was unprepared for problems due to demonetisation: Gowda

Bengaluru: Former prime minister and JD(S) supremo H D Deve Gowda on Wednesday said though demonetisation was a “bold decision”, Prime Minister Narendra Modi was not prepared for the problems that have arisen out of this move, leaving people disappointed. 

“Almost all media – print and broadcast – have termed Modi’s demonetisation as a total failure, which brought disappointment to the people,” he told reporters here.

On Modi’s December 31 address, Gowda said he was unable to understand the nature of the announcements made, whether it was a mini-budget or mini-joint address to be given by the President (Pranab Mukherjee). 

“What message has the Prime Minister given to the country? Is it a mini-budget or mini-joint address which is going to be given on the day of the joint session?. I don’t know. I am unable to understand,” he said. 

Gowda came down heavily on Modi’s announcement of a 60-day interest waiver for farmers who have taken loans from district co-operative banks and societies. 

“Sixty days of waiver only? What do you mean by that? The country is suffering from severe drought and floods in some northern states and the relief given by the honourable Prime Minister, I am unable to understand,” he said. 

On demonetisation, he said the Prime Minister had not prepared for problems of the people as the government issued 60 modified orders, including the I-T Act, by an ordinance. 

“On November 8, the Prime Minister had taken a bold decision to demonetise Rs 500 and Rs 1,000 notes to eradicate black money and teach a lesson to persons holding black money. But in just 25 days there have been nearly more than 60 modified orders, including the I-T Act by an ordinance,” he said. 

“It is my humble opinion, he (Modi) was not prepared and the Finance Minister (Arun Jaitely) continued to go on issuing modified orders,” he lamented.