Nitish Kumar takes U-turn on demonetisation, calls it monumental mismanagement

Bihar Chief Minister Nitish Kumar on Friday, in a dramatic U-turn from his earlier stand on demonetisation, called in a monumental mismanagement and asked the Modi government to tell what the benefit from demonetisation was.

Nitish Kumar takes U-turn on demonetisation, calls it monumental mismanagement

Bihar Chief Minister Nitish Kumar on Friday, in a dramatic U-turn from his earlier stand on demonetisation, called in a monumental mismanagement and asked the Modi government to tell what the benefit from demonetisation was.

Speaking to CNN-News18, he said that neither cash-less nor less-cash economy has worked anywhere in the world, and would never work in India.

Nitish's latest comments assume significance as one of very politicians from the opposition who had welcomed PM Modi's decision to demonetise Rs 500 and Rs 1000 notes.


Nitish had said that the move would help the country’s economy in the long run. “In the beginning people might face some inconvenience but taking everything into account, it would yield positive results,” Kumar had said a day after decision was annouced by the PM.

On friday at a function in Delhi, he sang a different tune, "“Manmohan Singh was right when he said demonetisation was monumental mismanagement. The Centre has to tell us what the benefit from demonetisation was. They can't divert the issue. When nowhere in the world cashless or less cash economy has worked, how will it work in a country like India? They say we will double farmers' income in five years. But they won't be here in five years, how will they double the income? The people in power today have a tendency to divert the narrative.”

He had earlier described the move as a "courageous step" even as he admitted that "poor arrangements" in its implementation were causing hardship to the common man.

“While supporting demonetisation in principle, I, with equal strength, criticise the poor arrangements for its implementation due to which common man is facing hardship," Nitish, had said recently. "I am seeing a minus with plus whereas many others are seeing only minuses," he had said.