Demonetisation: Manmohan Singh says time for politicking over, PM must accept blunder and rebuild economy

In yet another strong attack on Prime Minister Narendra Modi ahead of the first anniversary of demonetisation, his predecessor and noted economist Dr Manmohan Singh today said the time for politics over note ban is over, and that Modi should accept the blunder and rebuild India's economy.

"I strongly feel the time for politicking over demonetisation is over. It is time the Prime Minister graciously acknowledges the blunder and seeks support from all to rebuild our economy," Dr Singh said in an interview to BloombergQuint.

The veteran Congress leader has been at the forefront of the Congress assault on the Modi government over the sudden decision to ban high-denomination Rs 500 and Rs 1000 currency notes on November 8 last year.

Amid chaos over cash crunch and serpentine queues at the ATMs across India, the 85-year-old had called demonetisation "organised loot and legalised plunder" said during the winter session of the Rajya Sabha.

"So, in all, these measures convince me that the way this scheme has been implemented is a monumental management failure, and in fact, it is a case of organised loot, legalised plunder of the common people," he had said, a phrase that soon became the Opposition's rallying point against the government.

Manmohan's latest attack would only galvanise the Opposition as it prepares to observe a Black Day on November 8. The ruling BJP, on the other hand, has decide to celebrate it as an Anti-Black Money Day.