Kochi, Nov 17 (PTI) Former Prime Minister Manmohan Singhtoday claimed the country's economy slowed down due to "hasty"implementation of the GST soon after demonetisation by the NDAgovernment and said he did not see "any immediate recovery insight".
Addressing a public meeting organised by the Congress-ledUnited Democratic Front (UDF) here, Singh lashed out at theNarendra Modi-led government's policies and described thedemonetisation of Rs 1,000 and Rs 500 notes in November lastyear as "a great, historic blunder".
He said the BJP government imposed fresh "hardships" onthe people by "hastily" introducing the Goods and Services Tax(GST) in July this year.
"What is the net impact of demonetisation and hastyimplementation of GST? It led to a slowdown of our economicgrowth," he said.
Singh said the GDP growth rate came down from 7.2 percent in 2015-16 to 5.7 per cent in the first quarter of 2017-18 and small industries and traders were badly hit.
"I don't see any immediate recovery in sight," the formerprime minister, an accomplished economist, said.
He said the GST was an idea which had the support of theCongress party "but we would have implemented it after duecare and adequate preparation... Our aim was one country onetax structure."Referring to demonetisation, Singh said Modi had statedthat this decision was meant to unearth blackmoney, curbterrorism and to check the flow of fake currency fromPakistan.
"But what have the people of India gained from thisadventure except to be the recipient of fresh hardships. Atleast one hundred persons died standing in queues outside thebanks," he claimed.
The withdrawal of 86 per cent of currency imposed severehardships on the farmers and small industries and traders.
"Demonetisation turned out to be a great historic blunder," hesaid.
The BJP-led government at the Centre which came to powerwith "tall promises failed in implementing" them, he charged.
Singh said during the election campaign Modi had promisedthe people he would bring back all the black money hoardedoverseas. "Now three-and-a-half years have passed and thepeople of India ask what has the Indian citizen gained fromthe BJP rule?"Singh maintained that the prices of essential commoditieswere going up, unemployment was increasing and the promise tocreate one crore jobs every year had "proved to be a hollowone".
He also condemned the move by "divisive forces" to hurtthe country's secular and democratic fabric.
"We cherish religious harmony, we never imposedrestrictions on what food we eat or the dress we should wear.
Unfortunately within a short period of three-and-a half yearsof the BJP rule, attempts are being made to hurt the secularand democratic fabric of our country," he said.
The Congress party would fight "resolutely these divisiveforces", he added. PTI TGB VSABH.
This is unedited, unformatted feed from the Press Trust of India wire.