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Omar tries 'fool-hardy' hands on economics
11/25/2016 11:07:09 PM

Early Times Report

Jammu, Nov 25: Former chief minister and National Conference working president, Omar Abdullah, attempt to be an economist has drawn flak. He is questioning the logic of demonetization, with illogical basic questions of economics.
The Central government has issued an order that from now on, the old notes can be changed only at the counters of Reserve Bank of India only. Omar Abdullah, who is fond of jumping to conclusion on anything under the sun, tweeted: "Can RBI tell how many counters are there in J&K?"
Firstly, the RBI does have a counter in Jammu. Many believe he was pinched by this order as the same is not in Kashmir as he presumes himself to be sole guardian of this region in the state. However, it seems he has no knowledge about the facts. He has not understood what government had stated. It (government) has made clear that any person having old notes can deposit it in their accounts and same can be withdrawn as per the cap on withdrawal.
"Omar it seems is bewildered as black money hoarders won't be able to change their old notes. It also suggests that he might be knowing many tricks and could have advised his friends in Kashmir, but sadly since the counter is not there so he is trying to give it a economical twist to it, which is poor economics," said a senior official working in the Finance department.
The official said had Omar shown even bit of interests in the economics of the state, when he has heading it, the state would not have been in such a financial mess today.
"It was his government which first announced that new appointees would be given paltry sum of Rs 3500/ as salary and then he reversed his decision. It was one of the worst decisions in the economical history of the state," said the official.
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