Alleging that crucial institutions like RBI are being helm by those who have political patronage but not qualifications, Peoples Democratic Party (PDP) president Mehbooba Mufti said it’s a fact that demonetisation was a colossal failure.
Ms Mehbooba, who was the chief minister in previous PDP-BJP coalition government in J&K, was reacting to RBI board member S Gurumurthy defending demonetisation at India Today Conclave in New Delhi. Defending the note ban, he said, “The impact demonetisation was far less than that of the 2008 American recession.”
To this, Ms Mehbooba, taking to micro-bloggings site twitter, said she didn’t know India was competing for the worst recession award.
“It’s a fact that demonetisation was a colossal failure. But I didn’t know we were competing for the worst recession award. Only makes one wonder about the state of crucial institutions like RBI which are being helm by those who have political patronage but not qualifications,” she twitted.
