Note ban may slow down economy: President

Demonetisation may lead to a temporary slowdown of the economy, President Pranab Mukherjee said on Thursday.
Note ban may slow down economy: President
File Photo

Demonetisation may lead to a temporary slowdown of the economy, President Pranab Mukherjee said on Thursday.

"Demonetisation, which immobilizing black money and fighting corruption, may lead to temporary slowdown of the economy," the President said in an address on video to Governors and Lt Governors.

"We all will have to be extra careful to alleviate the suffering of the poor which might become unavoidable for the expected progress in the long run," he added.  

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