Demonetisation decision taken in haste : Virbhadra Singh

5 Dariya News

Shimla 10-Mar-2017

Himachal Pradesh Chief Minister Virbhadra Singh on Friday said the Centre's decision to demonetise high-value currency notes was taken in a haste and despite financial constraints his government ensured there was no slowdown in progress.After the November 8 move, the national growth in 2016-17 has declined significantly from the levels achieved in the previous fiscal, he said presenting the state Budget.Singh said as per the advanced estimates released by the central statistics office, the growth rate has declined to 7.1 per cent in 2016-17 from 7.9 per cent in 2015-16."This (the demonetisation) disrupted the day-to-day life of the people as cash rationing was done which is continuing till today. The tremors of this ill planned demonetisation are visible across all sectors of economy.""Despite financial constraints, we have ensured there is no slowdown in the development. Due to prudent management, the state treasury functioned smoothly," Singh said while presenting his 20th budget spread over his record six chief ministerial tenures in the state.