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DeMo would lead to temporary slowdown; poor need to be protected: President

President Pranab Mukherjee brought focus to the suffering of the people due to the note ban and said much needs to be done to help them get through the trying times.

Published: 05th January 2017 06:03 PM  |   Last Updated: 05th January 2017 06:04 PM   |  A+A-

Pranab_Mukherjee

President Pranab Mukherjee

By Online Desk

Nearly 60 days after demonetisation, President Pranab Mukherjee has weighed in on the issue, saying although the objective of the note ban was to combat black money hoarding and corruption, it would lead to a temporary slowdown of the economy.

 

The President brought focus to the suffering of the people due to the note ban and said much needs to be done to help them get through the trying times.

Even after the passage of the 50-day time period that Prime Minister Narendra Modi had sought from the people to set things right, curbs on withdrawal have not been lifted, only slightly eased. Meanwhile, reports about those on the economic margins faring poorly due to the lack of cash in hand, and making do without being paid daily wages have been increasing.



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