I believe the decision to scrap the high-denomination notes will push GDP growth up by 2%. Demonetization 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 demonetization 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 told PTI. As a result of demonetization, the ambit of economic activity will grow and add to the GDP," the Minister of State for Finance said.

Source: dna December 04, 2016 04:33 UTC