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)
Support Our Journalism
We cannot do without you.. your contribution supports unbiased journalism
IBNS is not driven by any ism- not wokeism, not racism, not skewed secularism, not hyper right-wing or left liberal ideals, nor by any hardline religious beliefs or hyper nationalism. We want to serve you good old objective news, as they are. We do not judge or preach. We let people decide for themselves. We only try to present factual and well-sourced news.
Support objective journalism for a small contribution.
