P. Chidambaram speaks on demonetisation


Kalina - P. Chidambaram while addressing at Mumbai University's convocation hall said,"country is poor in the world because of its own errors. Poverty can vanish. Demonetisation is not reform, its anti-poor and its tragedy. We have the myth that all cash is black money. Those who support demonetisation, they do not know elementary of economics. What have we achieved in demonetisation? You can not stop black money with demonetisation. It has destroyed farmers, small businessmen, workers. It is man made and unbeaten tragedy of this country. I support bank nationalization system. Demonetisation can accept only high inflation and currency instability situations. People will not take the bribe in a digital way. Digital payment does not work when you have to give bribe in the country.