It’s not PM Modi, Manmohan Singh is the ‘big daddy’ of economics

On Thursday, when former PM Manmohan Singh spoke on the adverse impact of demonetisation in the Rajya Sabha, the senior Congress leader proved who is the "big daddy" of economics.

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New Delhi, Nov 25: Few days ago, BJP MP Babul Supriyo defended PM Narendra Modi's absence from the Parliament.

The singer-turned-politician said that if kids can take on the opposition, there's no need to call the 'father'(Narendra Modi).

Manmohan Singh

"When little kids can answer them, then what is the need for daddy to come," said Supriyo.

On Thursday, when former Prime Minister Manmohan Singh spoke on the adverse impact of demonetisation on the Indian economy in the Rajya Sabha, the senior Congress leader proved who is the "big daddy" of economics.

[Also Read: Why is RBI governor Urjit Patel silent on demonetisation?]

Singh, during his stints as the Prime Minister, was criticised for maintaining a "stoic silence" on various scams that hit the UPA-1 and UPA-2 governments.

The opposition parties, especially the BJP, said Singh was turning a blind eye on the corruption scandals.

However, at a time when people on the streets are complaining about the difficulties they are facing due to cash crunch in the wake of scrapping of Rs 500 and Rs 1,000 currency notes by Modi regime, Singh decided to come out from his self-imposed exile and spoke eloquently on the subject.

[Also Read: Demonetisation: India is going to face serious recession, predicts economist Prabhat Patnaik]

His take on demonetisation hit the bull's eyes, helped by the fact that Singh is a renowned economist, who also headed the Reserve Bank of India (RBI) and Finance Ministry earlier.

Demonetisation, hailed as Modi's "masterstroke" by his supporters, was labelled as an "organised loot and legalised plunder" and "monumental mismanagement" by Singh.

The former PM's criticism on demonetisation was not to target the Modi government, but to tell the voters of India that how a "hasty and unplanned" economic decision could directly hit the GDP.

Singh predicted that GDP will slow down by at least two per cent which will hurt the people in agriculture, small industries and in the informal sectors.

Even the ally of BJP, Shiv Sena, asked Modi government to listen to Singh's suggestions as he was a renowned economist.

The pundits hailed Singh's analysis on demonetisation as "matured" observations.

Singh's Dramatic intervention in the Parliament against demonetisation might be a game changer, writes The Huffington Post.

Last, but not the least, if one has to really know how everyone rated Singh's speech, then the micro-blogging site, Twitter, is the best place to visit.

The hashtag--Manmohan Singh--was trending on Twitter till Friday.

Most of the reactions on Twitter greatly appreciated Singh's observations.

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