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Demonetization to GST: Dr. Singh’s Sharp Critique of Modi’s Economic Policies

In 2014, Dr. Manmohan Singh voiced apprehensions about Narendra Modi's leadership, citing concerns over its potential impact on India's democratic and secular fabric. From his critique of demonetization to the erosion of democratic institutions, Dr. Singh's insights remain a stark reminder of the challenges India's governance faces.

Navin Upadhyay by Navin Upadhyay
27 December 2024
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Demonetization to GST: Dr. Singh’s Sharp Critique of Modi’s Economic Policies
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ormer Prime Minister Dr. Manmohan Singh’s sharp critique of the Modi government highlights systemic issues—from flawed economic policies like demonetization and GST to the weakening of democratic institutions. His observations call for introspection to safeguard India’s future.


BY Navin Upadhyay

In January 2014, during a press conference, then-Prime Minister Dr. Manmohan Singh expressed his concerns about the prospect of Narendra Modi becoming India’s Prime Minister. He stated, “I am fully confident that the next prime minister of India will be from the UPA. And, I do believe that having Mr. Modi, whatever his merit, as the Prime Minister, will be a disaster for India.”

These remarks, made in the lead-up to the 2014 general elections, reflected the intense political climate and the high stakes of the contest. Dr. Singh’s candid statements underscored the ideological divide between the incumbent United Progressive Alliance (UPA) and the opposition Bharatiya Janata Party (BJP), led by Modi.

Two years later, Dr. Singh famously referred to the demonetization policy implemented by the Modi government as an act of “organized loot and legalized plunder.” This strong critique, delivered in the Rajya Sabha on November 24, 2016, highlighted the devastating consequences of withdrawing ₹500 and ₹1,000 currency notes.

Despite being known for his calm and composed demeanor, Dr. Singh did not shy away from speaking his mind when it came to critical policy decisions. His remarks on demonetization and governance reflected deep apprehensions about the trajectory of India under Modi’s leadership.

Governance and the Erosion of Democratic Institutions

Dr. Singh, revered for his intellect and soft-spoken approach, has consistently emphasized the importance of strong democratic institutions. In his view, these institutions form the backbone of a functioning democracy.

In the rapturous applause – a quiet acceptance of your grace, your knowledge and your strength of character…

…this is how the world will remember Dr Manmohan Singh pic.twitter.com/saMh5AVl9w

— Supriya Shrinate (@SupriyaShrinate) December 27, 2024

 

“The strength of a democracy lies in its institutions and the respect for the rule of law,” he remarked in an interview with India Today. Dr. Singh expressed concern over what he perceived as a systematic weakening of key institutions, including the judiciary, the Reserve Bank of India, and regulatory bodies, under the Modi government. He warned that political interference in these entities undermines their independence and, by extension, the democratic fabric of the country.

He also voiced alarm over the growing climate of fear and intolerance, arguing that dissent and diverse voices are essential for a thriving democracy. Dr. Singh highlighted the need for constructive debate and criticized the suppression of opposition voices, both in Parliament and across media platforms.

Economic Policies: A Scathing Critique

As the architect of India’s economic liberalization in 1991, Dr. Singh brought unparalleled expertise to his critique of the Modi government’s economic policies. He reserved sharp criticism for two flagship initiatives: the Goods and Services Tax (GST) and demonetization.

While acknowledging the need for a unified tax structure, Dr. Singh criticized the implementation of GST as rushed and poorly planned. He argued that inadequate stakeholder consultation led to confusion and chaos, particularly for small and medium businesses. Additionally, he pointed out that the GST burdened consumers with higher prices instead of achieving its goal of simplifying taxation.

On demonetization, Dr. Singh was unequivocal. Calling it “the biggest scam of the century,” he questioned its effectiveness in tackling black money and corruption. According to him, the policy inflicted significant harm on the economy, especially on small businesses and informal sectors reliant on cash transactions. Millions of daily wage earners faced unprecedented hardship, and the overall economic disruption outweighed any perceived benefits.

Dr. Singh criticized the government for prioritizing short-term political gains over structural reforms necessary for inclusive growth. He emphasized the need for policies that generate employment, strengthen rural economies, and uplift the informal sector, which sustains a majority of the population.

Foreign Policy Concerns

Dr. Singh’s apprehensions also extended to foreign relations. During his tenure, India pursued a balanced and pragmatic foreign policy, fostering strong partnerships with global powers and neighbors alike. In contrast, Dr. Singh expressed concern over the Modi government’s inconsistent and often isolationist approach.

He warned against aggressive posturing and strained relationships with neighboring countries like Pakistan and China. “India must not isolate itself on the global stage,” he said, advocating for constructive engagement with global powers and a leadership role in international organizations like the United Nations.

A Call for Constructive Opposition

Throughout his career, Dr. Singh has been lauded for his commitment to democratic values and reasoned discourse. In his India Today interview, he emphasized the importance of a strong and constructive opposition.

“Democracy thrives on debate and dissent. It is essential for the opposition to play its role effectively,” he stated, urging opposition parties to prioritize policy discussions over personal attacks. His call underscored the need for healthy democratic practices that foster accountability and inclusivity.

Conclusion

Dr. Manmohan Singh’s critiques of the Modi government highlight his deep concerns about the erosion of democratic institutions, poorly executed economic policies, and a lack of coherent foreign policy. His warnings reflect not only apprehensions about Modi’s leadership style but also a broader call to uphold the values of democracy, transparency, and inclusive governance.

As a statesman who served India during pivotal moments, Dr. Singh’s perspective carries immense weight. His words serve as a reminder of the principles that have guided India’s progress and a call to ensure that the nation stays true to its democratic ideals. For those seeking to understand India’s challenges and opportunities, Dr. Singh’s insights remain profoundly relevant.

 

Tags: PM Narendra ModiPMO
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