Speaking at the Jan Vedna convention organised by the Congress party here, Singh said, "Modi ji keeps on saying he will transform India's economy, we know now that the beginning of the end has come. Modi Ji's propaganda of national income going up in last two years has been proven to be hollow."
Cautioning the Centre on demonetisation, Singh said things have gone from bad to worse in the past few months.
"Demonetisation has hurt the country very badly. Things have gone from bad to worse in past few months. Some say GDP can be as low as 6.3 percent. We can imagine that what kind of a disaster demonetisation is," he added.
He further said demonetisation will have a 'very significant adverse effect'.
Meanwhile, continue to tear into Prime Minister Modi over his demonetisation drive, Congress vice-president Rahul Gandhi said for the first time in the history, the Prime Minister of India is being ridiculed all over the world for taking an "incompetent and ill-planned" decision.
He also said the demonetisation move was not RBI's decision but a 'personal decision' of Prime Minister Modi.