"This demonetization scheme, used to carry out the reform will damage agricultural growth, growth of small enterprises and will harm everyone who works in the shadow economy. According to my estimates, our state’s national income, GDP may decrease by 2% as a result of what was undertaken," Singh said.
Singh called on the Indian Prime Minister Narendra Modi to make constructive proposals related to the ways of implementing the reform and preventing the "disaster" which the Indian people faced.
Present governmental restrictions allow Indians to only withdraw up to 2.000 rupees (approximately $29) from their cards per day and less than 24.000 (approximately $349) rupees from their bank accounts per week.
According to the former prime minister, some 60-65 people have died while standing in line to banks and cash machines to date.