Economy returning back to normalcy faster than expected: Anand Mahindra

By: | Published: January 10, 2017 10:10 PM

Amid the chaos over economic growth post demonetisation Anand Mahindra, the executive chairman of Mahindra Group, said that the economy is returning back to normalcy much faster than expected and remained optimistic about the faster growth of the country.

The 61-year-old business tycoon also has high expectations from US President-elect Donald Trump.(PTI)The 61-year-old business tycoon also has high expectations from US President-elect Donald Trump.(PTI)

Amid the chaos over economic growth post demonetisation Anand Mahindra, the executive chairman of Mahindra Group, said that the economy is returning back to normalcy much faster than expected and remained optimistic about the faster growth of the country. He was talking to ET NOW. The 61-year-old business tycoon also has high expectations from US President-elect Donald Trump. “Need to wait and watch Donald Trump’s economic policies,” he said. Donald Trump has been elected the US President and will assume the office from January 20. Before this, India had enjoyed a strong and favourable relationship with the US under the presidentship of Barack Obama.

As India is shifting to a cashless economy, the economic growth was expected to be slow and less than it was predicted before because of Narendra Modi-led government’s sudden recall of high denomination bank notes that hit certain cash-based segments of the economy due to the resultant cash crunch. That the government has brought the financial system back to normal has given Mahindra hope of country registering faster growth. He has also predicted that sectoral issues will be resolved soon.

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Mahindra’s comments came at the time when the Centre is facing criticism from the Opposition for its demonetisation move, however, it is saying that the move will swing the fate of the country and black money holders and even terrorists will be hit by the move. The government has seized crore of rupees and a major chunk of new, old and counterfeit currency post demonetisation.

On the streets, though the lines outside banks and ATMs are almost nill, but a limit over the withdrawal of money is still causing inconvenience to the people.

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