Finance Minister Arun Jaitley on Friday said that demonetization may impact growth "for a quarter or so" but this disruption will not last too long and the move along with GST will help create a larger and cleaner economy. "I have least doubt in my mind that (one year from now) you will have a bigger economy, higher GDP, cleaner GDP. Both the economy and social system will see a major transformation after the implementation of the Goods and Services Tax (GST) post demonetization. As far as the negative impact of demonetization is concerned, Jaitley said, "When you switch over, it creates disruption. Speaking about the various advantages of the demonetization, the Finance Minister said, it could lead to reduction in interest rates.

Source: dna December 02, 2016 14:32 UTC