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Home Latest india news Manmohan Singh says unemployment high in India due to demonetisation

Manmohan Singh says unemployment high in India due to demonetisation

Former Prime Minister Dr. Manmohan Singh on Tuesday blamed the Central government for rising unemployment in the country. Criticizing Modi government, he said unemployment is high in the country and its informal sector is in shambles following the ill-considered demonetization decision taken by the BJP-led government in 2016.

He also criticised the central government for not holding regular consultations with the states. Inaugurating a development summit virtually organised by the Rajiv Gandhi Institute of Development Studies in poll-bound Kerala, Dr Singh said that the public finances are in disarray with states having to resort to excessive borrowing, which creates an intolerable burden on future budgets in Kerala and in many other states.

The summit was organised to launch a Vision Document, a framework of ideas for development of Kerala well in advance of the state elections.

In his address, Dr Singh said federalism and regular consultation with states, which was the cornerstone of India’s economic and political philosophy as enshrined in the Constitution, no longer finds favour with the present Central government. In his speech, he alleged Modi government that there are other sectors that need strong attention in the future despite Kerala’s high social standard.

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Noting that the focus on health and education has enabled Kerala to take advantage of job opportunities elsewhere in the country and in all parts of the world, Dr Singh said this has led to a growing stream of remittances from abroad which created a booming real estate sector and sharp growth of the services sector, led by tourism and information technology.

Referring to the 1991 nation Budget, Dr Singh quoted Victor Hugo that nothing is more powerful than an idea whose time has come. He said he get the feeling that the unanimity and clarity displayed by the United Democratic Front on the road ahead will lead to Kerala’s idea moment arriving this year.

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