Wednesday, 18 May 2022

 

 

LATEST NEWS Dr. Shahid Iqbal Choudhary reviews tribal education projects in Rajouri Regional Conference on 'Bringing Citizens and Government Closer Through Administrative Reforms' concludes Work expeditiously on formulation of action plans for CSSs : Atal Dulloo to officers Horticulture Department conducts auction of Fruit crop DDC Council holds introductory meeting with DC Udhampur Panchayat Dalhori Salyote delegation calls on DC Rajouri Awareness event held to mark World Hypertension Day Dheeraj Gupta reviews Safai Mitra activities and progress of CWBP and CWAP Chief Secretary Ram Subhag Singh reviews preparation of PM visit to Shimla Neena Gupta sheds light on status of her biopic Amarinder Singh reminds Aam Aadmi Party of opposing extension of BSF jurisdiction Neeru Bajwa Shares A Beautiful Video With Appreciation Post. Says, ‘I’m Speechless’ Amarnath pilgrims should have hassle free Darshan : Amit Shah Labour workforce and arhtiyas backbone of State's economic structure: Lal Chand Kataruchak Kartik Aaryan, Kiara Advani visit Delhi's Gurudwara Bangla Sahib ahead of 'Bhool Bhulaiyaa 2' release Shekhar Suman on 'India's Laughter Champion': It's aimed at making you forget all your worries IPL 2022: We have hunger and desire to help each other, says Delhi Capitals' David Warner Overwhelmed by response to 'Saani Kaayidham', says director Arun Matheswaran MP Patiala Preneet Kaur inaugurates new Park and Dharmshala at Patiala's ward number 54 We knew we had the ability to get a medal, says HS Prannoy DC inaugurates library at DBEE

 

Restore certainty, visibility in economic policies : Manmohan Singh

5 Dariya News

New Delhi , 08 Nov 2018

Holding demonetisation an "ill-fated" and "ill-thought" exercise, former Prime Minister Manmohan Singh on Thursday said the scars and wounds of the decision are only getting more visible with time and its deeper ramifications are still unravelling.On the second anniversary of the demonetisation decision, he also asked the government not to indulge in any further unorthodox, short-term economic measures that could cause more uncertainty in the economy and financial markets.Singh said November 8 was a day to remember how economic misadventures can roil the nation for a long time while asking the government to restore certainty and visibility in economic policies."Today marks the second anniversary of the ill-fated and ill-thought demonetisation... The havoc that it unleashed on the Indian economy and society is now evident to everyone."It is often said that time is a great healer. But unfortunately, in the case of demonetisation, the scars and wounds of demonetisation are only getting more visible with time," he said in a statement.Singh said that beyond the steep drop in headline GDP growth numbers after demonetisation, the deeper ramifications of note ban were still unravelling."Small and medium businesses that are the cornerstone of India's economy are yet to recover from the demonetisation shock," he added.

"Notebandi (note ban) impacted every single person, regardless of age, gender, religion, occupation or creed."I urge the government to restore certainty and visibility in economic policies. Today is a day to remember how economic misadventures can roil the nation for a long time and understand that economic policymaking should be handled with thought and care."He said that even after two years, the economy was yet to "recover from the demonetisation shock". That the step had "a direct impact on employment as the economy continues to struggle to create enough new jobs for our youth".Singh said the financial markets were volatile as the liquidity crisis wrought by demonetisation was taking its eventual toll on infrastructure lenders and non-bank financial services firms."We are yet to understand and experience the full impact of the demonetisation exercise. With a depreciating currency and rising global oil prices, macroeconomic headwinds are also starting to blow now."It is therefore prudent to not resort to further unorthodox, short-term economic measures that can cause any more uncertainty in the economy and financial markets."In a sudden move that took everyone by surprise, Modi on this day in 2016 announced a ban on Rs 500 and Rs 1,000 currency notes.

 

Tags: Manmohan Singh , Demonetisation

 

 

related news

 

 

 

Photo Gallery

 

 

Video Gallery

 

 

5 Dariya News RNI Code: PUNMUL/2011/49000
© 2011-2022 | 5 Dariya News | All Rights Reserved
Powered by: CDS PVT LTD