While lauding the rationale behind Centre’s demonetisation policy, Nationalist Congress Party (NCP) chief Sharad Pawar on Sunday said its “execution was deeply flawed”.
Comparing the policy to a medical operation, Mr. Pawar said, “Despite the doctor having performed a successful operation, there was a chance that the patient’s health could deteriorate rapidly as proper care wasn’t being taken.”
Speaking at a party meeting here, Mr. Pawar expressed scepticism over the notion of a ‘cashless economy’ in agriculture-focused regions of India. The Maratha strongman also claimed that 92 per cent of the country’s transactions are cash-based.
He also disapproved of Reserve Bank of India’s (RBI) November 14 order that prohibited cooperative banks from accepting or exchanging the discarded Rs. 500 or Rs. 1000 currency notes, and said that the district central cooperative banks (DCCB) of Maharashtra were sitting on a cash pile of nearly Rs. 5000 crore.
“The RBI ban has disrupted the economic life in rural areas with no provision of what exactly is to be done with the large amount collected in old notes by the DCCBs,” Mr. Pawar said.
Commenting on his often remarked closeness to Prime Minister Narendra Modi, Mr. Pawar said he considers issues of national importance over indulging in politics.
“It is often remarked that I am very close to Mr. Modi. But when it comes to issues of national importance, I’ve never indulged in politics or considered whether the Prime Minister is from the Opposition. Party politics must be transcended to resolve pressing issues like agrarian matters or other similar issues,” he said.
