Scars and wounds caused by demonetisation more visible with time: Manmohan SIngh
New Delhi, Nov 8: In a scathing assessment of the demonetisation exercise, former prime minister Manmohan Singh on Thursday said the "scars and wounds" it caused are getting more visible with time and the decision's second anniversary is a day to remember how "economic misadventures" can roil the nation.
The senior Congress leader asked the government to not resort to further unorthodox, short-term economic measures that can cause any more uncertainty in the economy.
Describing demonetisation as an "ill-fated" and "ill-thought" exercise, Singh said in a statement that the havoc it unleashed on the Indian economy and society is now evident to everyone.
On November 8, 2016, Prime Minister Narendra Modi announced a ban on then in use Rs 1,000 and Rs 500 denomination bank notes with immediate effect.
"Notebandi impacted every single person, regardless of age, gender, religion, occupation or creed," Singh said.
"It is often said that time is a great healer. But unfortunately, in the case of demonetisation, the scars and wounds of demonetisation are only getting more visible with time," the former prime minister said.
Beyond the "steep drop" in headline GDP growth numbers after demonetisation, the deeper ramifications of 'notebandi' are still unravelling, he said.
Small and medium businesses that are the cornerstone of India's economy are yet to recover from the demonetisation shock, Singh asserted.
"This has had a direct impact on employment as the economy continues to struggle to create enough new jobs for our youth," he said, adding that the financial markets are volatile as the liquidity crisis wrought by demonetisation is taking its eventual toll on infrastructure lenders and non-bank financial services firms.
In his strong criticism of demonetisation, he said the full impact of the demonetisation exercise is yet to be understood and experienced.
"With a depreciating currency and rising global oil prices, macro-economic headwinds are also starting to blow now.
"It is therefore prudent to not resort to further unorthodox, short-term economic measures that can cause any more uncertainty in the economy and financial markets."
Singh also urged the government to restore certainty and visibility in economic policies.
"Today, is a day to remember how economic misadventures can roil the nation for a long time and understand that economic policy-making should be handled with thought and care," he said.
The Congress has announced that it will hold a nationwide protest on Friday to mark the second anniversary of demonetisation. It has also demanded that Prime Minister Narendra Modi should apologise to the people for "ruining and wrecking" the economy.
Let the Truth be known. If you read VB and like VB, please be a VB Supporter and Help us deliver the Truth to one and all.
300 students get free sanitary pads at menstrual health awareness programme in Mangaluru
Mangaluru: Around 300 students from government colleges and schools in Kavoor were given free sanitary pads during an awareness programme on menstrual health and hygiene held on Saturday.
The programme was organised by the Women Research Centre and the Internal Quality Assurance Cell (IQAC) at the Government First Grade College (GFGC), Kavoor. The students hailed from Government First Grade college (GFGC), PU government college and high school, Deccan Herald reported.
Prameela Rao of Women Research Centre reportedly said, such awareness programme on menstrual health and free distribution of pads will be organised once in two months throughout the year. The entire cost of organising the awareness programmes and free distribution of pads had been sponsored by US based couple, Vinay Kumar and Dr Sowmya Rao, and a non-government organisation ‘Code Crimson'."
ALSO READ: 60-year-old man arrested under POCSO Act on rape charges in Surathkal
Joint Director of the Department of Collegiate Education, Kavitha K R, who inaugurated the programme reportedly said, such initiatives should inspire students to give back to society in the future. As per the report, she highlighted the need for more women role models and encouraged students to break taboos surrounding menstruation.
According to the report, GFGC Principal Dr Geetha M L urged students to use biodegradable sanitary pads. Doctors Ankita Sarkar and Anuja Sarkar from Code Crimson addressed students on menstrual myths, hygiene practices, the importance of regular pad changes and safe disposal methods.
The speakers stressed that menstruation is a natural process and encouraged students to seek correct information without hesitation.
