Demonetization 'largest money-laundering scheme' by govt: Arun Shourie

Arun Shourie is former BJP member and was Cabinet minister during Atal Bihari Vajpayee's rule

The former union ministers take on the scheme has landed the government in a soup as it has been struggling hard to explain the negative economic projections and downward growth ratings. He told this during a discussion with NDTV adding that withdrawing the high-value currency notes in November, 2016 was the cause for the economic slowdown in the country.

The Reserve Bank of India had said that 99 per cent of banned currency notes came back into the banking system and which suggests government's aim to destroy black money was not achieved. It was an "idiotic jolt" he continued, "everyone who had black converted it into white". Black money? All of it turned white.

Mumbai: Arun Shourie, who was cabinet minister in Atal Bihari Vajpayee's government from 1998 to 2004, on Tuesday slammed Narendra Modi's dispensation for rolling out misplaced policy decisions. He called the special midnight Parliament session to roll out the GST on June 30 "event management" and said a tax reform had been equated with the independence of India. "Terrorism? Terrorists are still coming into India", he said.

PM Modi said the critics were proved wrong who were sceptical about growth post implementation of Goods and Services Tax.

"The rules have been amended seven times within three months", he said.

Earlier, in a newspaper article headlined, "I need to speak up now", Yashwant had criticised Jaitley over what he called the "mess the finance minister has made of the economy" and flayed demonetization and the way the GST had been rolled out. Shourie said that he agreed with Sinha that others within the BJP were also anxious about where the economy is going and the government policies. "Which argument today survives?" They are so self-satisfied with it. - Arun Shourie8.

He also charged Sinha with acting in tandem with a fellow former FM and senior Congress leader P Chidambaram, saying the two seemed to have forgotten the barbs they have used for each other.

In May, Shourie said that India's government consists of only three people - Modi, Finance Minister Arun Jaitley and party chief Amit Shah, who have "frightened not just the allies but their own group". The index of industrial production has gone down from about 9 percent in 2015-16 to about 1.7 percent in April to July. They are concerned about 300-foot statutes, bullet trains etc, he said.

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