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“Scars Only Getting More Visible With Time”: former PM Manmohan Singh on demonetisation

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Manmohan Singh

Congress leader and former Prime MinisterDr Manmohan Singh today (Thursday, November 8) cautioned Narendra Modi government against “economic misadventures” and urged it to handle economic policy making “with thought and care”.

In a statement on the second anniversary of demonetization, Dr 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.”

“I urge 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 policymaking should be handled with thought and care,” said the former prime minister.

Manmohan Singh, calling Prime Minister Narendra Modi’s overnight ban on Rs. 500 and 1,000 notes on November 8, 2016, an “ill-fated and ill-thought exercise”, said “the havoc it unleashed on the Indian economy and society is now evident to everyone.” The cash ban, he said, impacted every single person, regardless of age, gender, religion, occupation or creed.

“Beyond the steep drop in headline GDP growth numbers after demonetisation, the deeper ramifications of notebandi are still unraveling. Small and medium businesses that are the cornerstone of India’s economy are yet to recover from the demonetisation shock,” said the former prime minister, who is a noted economist.

“This has had a direct impact on employment as the economy continues to struggle to create enough new jobs for our youth. The financial markets are volatile as the liquidity crisis wrought by demonetization is taking its eventual toll on infrastructure lenders and non-bank financial services firms. We are yet to understand and experience the full impact of the demonetization exercise. With a depreciating currency and rising global oil prices, macro-economic headwinds are also starting to blow now.”

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Dr Singh, who served as India’s PM for 10 years till his party Congress was voted out of power in 2014, advised that it was “prudent to not resort to further unorthodox, short-term economic measures” that could cause any more uncertainty in the economy and financial markets.

The Congress has said that PM Modi should apologise to the nation for “wrecking the economy and causing its people untold hardships”.

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Karnataka cabinet clears 15% internal reservation for Scheduled Castes, recruitment to begin soon

Karnataka approves internal reservation within SC quota, paving way for jobs

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The Karnataka cabinet, led by Chief Minister Siddaramaiah, has approved an internal reservation framework for Scheduled Castes (SCs) within the existing 15% quota, a move expected to address long-standing demands and restart stalled government recruitment.

The decision was taken during a special cabinet meeting and introduces a revised formula to distribute the quota among different SC sub-groups.

How the quota will be divided

Under the new structure, the 15% reservation for Scheduled Castes will be split into three categories:

  • 5.25% for “left-hand” SC communities
  • 5.25% for “right-hand” SC communities
  • 4.5% for other SC groups, including nomadic communities

The formula is based on proportional representation and aims to ensure equitable distribution of benefits among various sub-castes.

Recruitment to resume after long delay

The cabinet’s approval is expected to immediately unlock recruitment for thousands of government positions that had been on hold due to the reservation issue.

Officials indicated that recruitment notifications will now be issued, potentially opening up more than 50,000 vacancies across departments.

Long-pending demand addressed

The move comes after decades of demands from different SC communities seeking internal classification within the quota system. The government described the decision as a step toward social justice and balanced representation.

The issue had remained unresolved for years due to legal and administrative complexities, including concerns over exceeding the Supreme Court-mandated 50% reservation cap.

Political and social significance

The decision carries both administrative and political importance, as it addresses a sensitive issue affecting multiple communities within the Scheduled Castes. It also comes at a time when reservation policies continue to be a major subject of debate across states.

While the government has presented the move as a corrective step, it is likely to trigger reactions from various stakeholders, including opposition parties and community groups.

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Amit Shah claims Mamata leaving, BJP coming after high turnout in Bengal polls

Amit Shah says high turnout in Bengal polls signals shift from Mamata Banerjee’s rule, predicts BJP surge.

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Union Home Minister Amit Shah on Friday expressed strong confidence in the Bharatiya Janata Party’s prospects in the ongoing West Bengal Assembly elections, asserting that the political mood in the state signals a shift away from Chief Minister Mamata Banerjee.

Speaking after the first phase of polling, Shah claimed that the high voter turnout indicates a desire for change, stating that “Mamata is leaving and BJP is coming.”

The first phase of elections recorded a notably high turnout across several constituencies, which Shah said reflects growing public support for the BJP and dissatisfaction with the current administration.

BJP predicts strong performance

The senior BJP leader went a step further, projecting a significant electoral gain for his party. He suggested that feedback from party workers and internal assessments indicate that the BJP could secure a large share of the seats contested in the first phase.

Shah linked the voter turnout to what he described as a broader shift in public sentiment, claiming that people in the state are moving from “fear to trust” and are ready for political change.

Intensifying political battle

The remarks come amid a high-pitched political contest between the BJP and the ruling Trinamool Congress, led by Mamata Banerjee. The ongoing election has seen sharp exchanges between leaders from both sides, with each camp projecting confidence in forming the next government.

Shah’s comments also follow recent statements by Banerjee targeting the BJP at the national level, highlighting the broader political stakes surrounding the Bengal elections.

As polling progresses in multiple phases, the results are expected to play a crucial role in shaping the political landscape of the state.

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Kejriwal calls MPs for meeting, sources say he was unaware of developments

Arvind Kejriwal met AAP MPs at his residence, with sources suggesting he was unaware of developments that emerged ahead of the meeting.

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In a key political development, Arvind Kejriwal called a meeting of Aam Aadmi Party (AAP) MPs at his residence, with sources indicating that the party chief was unaware of what was about to unfold.

According to sources, the meeting was convened amid signs of unease within the party. However, those familiar with the developments said Kejriwal did not have prior knowledge of the concerns or positions that some MPs were expected to raise during the interaction.

The discussions come at a time when AAP is navigating internal challenges, with indications of differing views within sections of its parliamentary leadership. While details of the meeting have not been officially disclosed, sources suggested that the interaction carried an element of surprise for the party leadership.

There has been no official statement from the party regarding the outcome of the meeting. The situation remains fluid, and it is not yet clear what impact these developments may have on the party’s parliamentary strategy going forward.

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