New Delhi: Demonetisation will lead to a spurt in economic activity, which will in turn push GDP growth to 10%, union minister Arjun Ram Meghwal has said. “Some economists predicted that demonetisation would dampen economic activity over the next two quarters. But I believe that the decision to scrap high-value banknotes would push GDP growth up by 2%,” he said. “There are many types of financial transactions that are not considered as an economic activity. As a result of demonetisation, the ambit of economic activity will grow and add to the GDP,” the minister of state for finance said.

Source: Mint December 04, 2016 04:54 UTC