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Demonetisation will expose a Rs 3-5 lakh crore scam: Baba Ramdev

Ramdev cast aspersions on the role of some RBI employees.

By: Express Web Desk | New Delhi |
December 17, 2016 6:57:54 pm
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Yoga Guru and founder of Patanjali Ayurveda Baba Ramdev spoke to news website The Quint, saying the demonetisation policy will expose a scam of Rs 3-5 lakh crore. Ramdev cast aspersions on the role of the Reserve Bank of India (RBI) in the printing of notes and said that it could be them or the previous government that printed two notes of the same series.

“The role of some people under RBI is also under doubt. Which is really unfortunate and raises a serious question on our system. Did they print two notes with the same serial number. Whether it was done by RBI or the previous government is debatable. But if two notes of the same series were printed then it will be a huge blot on the economy. I think this will expose a Rs 3-5 lakh crore scam,” he said. He then said the implementation was a problem and cash was given to corrupt people.

“Cash supply was adequate, but it was given to the corrupt people. I think the implementation could have been better. Even Modiji wouldn’t have foreseen the corruption of the bankers,” he said.

Ramdev also said that he had suggested the demonetisation policy to Prime Minister Narendra Modi, however, his suggestion came with two other ideas, that implemented together would be beneficial and successful.

“I made three suggestions. Firstly, remove higher currency notes. Secondly, make the entire system cashless and put transaction tax and thirdly, make the banking system transparent. They only listened to one of these suggestions but not the other two. The system will improve only if all three suggestions are taken into account,” he said.

Ramdev had earlier described the Centre’s demonetisation as a “bitter pill” but said it will have a “healthy impact” on the Indian economy. “Demonetisation is posing some problems to commoners. It is an issue which will wither in a few more days. It is like a bitter pill for the Indian economy but it is going to have a good impact,” he had said.

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