Note Ban & GST Broke the Back of Small Businesses: Manmohan Singh
This twin blow (GST and demonetisation) is a complete disaster for our economy, said the former Prime Minister.
Scrapping higher value currency notes was “organised loot and legalised plunder,” former Prime Minister Manmohan Singh said, terming the BJP-led government's demonetisation exercise as a reckless step.
None of its objectives were achieved, Singh alleged during an interactive session on the current state of the economy with businesspersons and traders in Ahmedabad on 7 November.
Hitting out at the government over the rollout of the Goods and Services Tax, Manmohan Singh alleged that compliance requirements under GST had become a nightmare for small businesses.
Also Read: 8 November Was A Black Day For India: Manmohan Singh in Gujarat
He also criticised the Centre's ambitious Ahmedabad-Mumbai bullet train project and dubbed it an “exercise in vanity”.
Singh's visit comes a day before Congress vice president Rahul Gandhi’s scheduled Surat tour on the anniversary of the government's announcement of the demonetisation exercise.
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(With inputs from PTI)
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