Note Ban Will Lead To Momentary Slump : Pranab Mukherjee

By : 06-Jan-2017
Prez Pranab Mukherjee,‘Note Ban,Momentary Slump

NEW DELHI: Two months after demonetisation, President Pranab Mukherjee showed up to the public by issuing a precautionary note indicating Modi government's note ban measure that had lead to a temporary slump in the economy and hurt the poor.

In his New Year's speech to the Governors and Lieutenant Governors, Mr. Mukherjee had termed 2016 as a year of "mixed fortunes". He urged the Governors to use their rights to play the role of the unifiers in the coming times.

Mukherjee highlighted about the emerging Assembly elections which are due in seven states including Uttar Pradesh, Uttarakhand, Manipur, Punjab, Goa, Gujarat and Himachal Pradesh may affect the society. He said that India's strength lies in its diversity and no one could deny the prevalence of multiplicity of opinion.

The president at his address said that the Demonetisation movement was forced to be called for the immobilisation of the unaccountable reserves of money and for the eradication of the corruption. He illustrated that the centre need to be responsible in identifying the agonies of the poor.

He further empathised with the poor and said that they could not wait to evidence the positive effects of the note ban on the country. The poor segment needs to get succoured now and then. The government must have a yardstick to measure the deprived segment who is hungry, unemployed and over-exploited.

Mukherjee also said that recent package dished out by PM Modi will bring a sense of relief to the poor.

The President advocated to the nation that the Goodwill must prevail between the communities. Communal tensions may hamper the harmony and integrity of the country, therefore the rule of law must form the sole basis of dealing with any such contingent situations on the ground.

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