NEW DELHI : Squeezing out of 86% of currency constituting 12.2% of GDP would obviously have significant consequences said Finance Minister.
Queues outside the banks have disappeared and the remonetisation has moved ahead said FM.
FM says demenetisation is obviously disruptive as are all reforms as they change the retrograde status quo says FM. Reducing cash may not eliminate crime and terrorism but it can inflict serious blow on them says FM. Implementation of demonetisation carried pain; led to short term criticism and inconveniences as well as drop in economic activity says FM. (AGENCIES)
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