Chidambaram says demonetisation not a reform but a monumental tragedy, calls it anti-poor

Criticising Narendra Modi government’s move to ban old currency notes of Rs 500 and Rs 1,000, Former Finance Minister P Chidambaram on Tuesday called demonetisation “anti-poor”.

He also said that demonetisation is not a reform but a monumental tragedy.

“I don't think demonetisation is a reform, I think it is a monumental tragedy. It is anti-poor,” said Chidambaram, who has criticised the currency ban move earlier too.

“Any country which is poor today, it is poor because of its own errors, own faults. With the end of poverty, hunger will end, illiteracy will end and discrimination will end,” he was quoted as saying by ANI.