Harish Salve, senior advocate in the Supreme Court of India has opined that the apex court is to blame for the country’s present economic slowdown.
The economic slowdown has begun in the country with the Supreme Court’s judgement in the 2012 2G scam case. The judgement by the Court to cancel the 122 spectrum licences issued has send wrong message to investors, Salwe accused. He blamed the apex court in an interview given to an legal news portal.
” I can understand holding people responsible for the wrong distribution of licences in 2G… Blanket cancellation of licenses where foreigners are investing… See, when a foreigner invested it was your ruel which said must have an Indian partne. The foreigner did not know how the Indian partner got licence”, Salwe said. ” Foreigners invested billions of dollars, and with one stroke of the pen, the Supreme Court knocked all of them out. That’s when the decline of the economy began”, he added.
Salwe also blamed demonetization as one of the factors of the economic crisis. Even though demonetization was a good measure but its implementation has affected India’s economy badly. But it had also done a good thing that many bogus companies have been exposed.
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