1. Demonetisation in India: Country to gain medium-term benefits from note ban, says IMF

Demonetisation in India: Country to gain medium-term benefits from note ban, says IMF

The IMF is slated to come out with an update of its projections of India’s growth rate along with the rest of the world in January.

By: | Washington | Updated: December 15, 2017 7:55 AM
The International Monetary Fund (IMF) sees benefits in the medium-term from the demonetisation exercise which India carried out about a year ago.

The International Monetary Fund (IMF) sees benefits in the medium-term from the demonetisation exercise which India carried out about a year ago. “We see salutary benefits from the demonetisation that took place a year ago. And there are potential benefits going forward,” William Murray of the IMF told reporters at the fortnightly IMF news conference. Murray said the demonetisation did cause some temporary disruptions in economic activity, primarily, private consumption and small businesses due to cash shortages. “(But) the effects are dissipating,” he said in response to a question. “In the medium term, demonetisation could have possible effects, including through greater formalisation of and the information on economic activities and a more efficient payment system with a greater use of the banking system and digital payments,” Murry said. The IMF is slated to come out with an update of its projections of India’s growth rate along with the rest of the world in January.

Get latest news and updates on Auto Expo 2018, check breaking news on Budget 2018, like us on Facebook and follow us on Twitter.

  1. A
    Anand
    Dec 15, 2017 at 8:55 pm
    Contrast this against what MMS and PC said about DeMon - "it is a p er and loot of common man". I have no respect for PC anyways because he is not a person of integrity but had respect for MMS. But MMS is becoming totally dishonest and very politically motivated in his remarks. Sad!
    Reply
    1. S
      sundar
      Dec 16, 2017 at 6:20 pm
      ok, so this 'g plan' got downgraded from 'long term benefit' to ' medium term'? ever heard of 'short term ill-effects far outweigh any potential long term benefits'? people who get mthly ry will never get the pain of this and gst.
      Reply
    2. K
      KS
      Dec 15, 2017 at 11:48 am
      Where will the so called "economic experts" like MMS PC hang their face now? Not only they were irresponsible when they were in Govt by not undertaking any reform whatsoever but they added to the woes of the country in a massive way by looting the banks and through other monumental scams. Still they had the audacity to come out talk as if they were normal persons!! What is even worse is there were "media" that was ready to stage them with respectability, the least of which they don't deserve. The eco system existing i our country right now that tried to peddle false narratives by projecting thieves as good Samaritans painting the policies of the Govt bad is a dangerous one that needs to be eliminated immediately if our country has to grow. Govt should seriously investigate their nexus and book them as all these crooks fall for money only. Indian will be happy when we see Sonia,Rahul,MMS,PC, Lalu, Mamata .. are all put in prison for life.
      Reply
      1. S
        sundar
        Dec 16, 2017 at 6:23 pm
        so namo and aj know more abt modern economics than harvard, moodys, etc??these guys dont even know how to win a mp seat or govern their own states properly.now they are spreading their poison all over the country and crashing whatever progress the country has made in the last 70 yrs. yes, there have been huge crimes . in that case bjp led govts should have been on top of all ve indices by now. none of them are, theyre all even worse than states led by other parties. shame
        Reply

      Go to Top