When Dr Manmohan Singh had turned prophetic... to BJP's chagrin

New Delhi: Former Prime Minister Dr Manmohan Singh, a perspicacious economist- yes, an astute politician- perhaps not. He, however, proved both.

His famous speech in the Rajya Sabha made on November 24, 16 days after much-hyped demonetisation, turned out to be spot-on prophetic both as an economist and a politician-if some may still say so.

Dr Singh, always a reticent political figure, had surprised many by making speech without mincing his words and had predicted that the demonetisation would cause fall in Gross Domestic Product (GDP) by two percent. It was 7.9 per cent and fell to 5.7 per cent in the first quarter of 2017-18 making his words far-seeing, rather unusual for a less-political person like Dr Singh.

Also Read: Budget 2017: Economic Survey ascertains next fiscal growth upto 7.5%

Congress has a reason or two rejoice as RBI report has stamped the growth rate and deposition of banned currency as predicted by the great economist like Manmohan Singh. Naturally, the video of his speech is doing rounds on the social media leaving BJP people high and dry. Such was as authority of Singh at that time that unlike his temperament , he had used rather harsh words calling the DeMo as 'organised loot and legalised plunder'.

He had even turned poetic when he quoted John Keynes' words when countering those who were saying it was good in the long run by "In the long run we are all dead.'" He had gone on to to even suggest Modi to 'find a solution even at this late hour", mind you, it was on November 24,2016.

Checkout the video in next slide:

https://youtu.be/pGoGMfib1G0

Video Credits: INC, RajyaSabhaTV