Demonetisation may lead to temporary slowdown of economy: President
In his New Year message to Governors and Lt. Governors, Mukherjee said: "Demonetisation, while immobilizing black money and fighting corruption, may lead to temporary slowdown of the economy."
He said there is need for being "extra careful" to alleviate the suffering of the poor, cautioning that this section of the society may not be able to wait too long.
"We all will have to be extra careful to alleviate the suffering of the poor which might become unavoidable for the expected progress in the long term. While I appreciate the thrust on transition from entitlement approach to an entrepreneurial one for poverty alleviation, I am not too sure that the poor can wait that long," aid he.
He said, "They need to get succour here and now, so that they can also participate actively in the national march towards a future devoid of hunger, unemployment and exploitation."
(Image: twitter.com/RashtrapatiBhvn)
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