Kolkata, Aug 23 (IANS) Reserve Bank of India's former Governor D. Subbarao on Wednesday said the benefits of demonetisation would depend on the objectives of it.
"I think what you have to see how much income tax has gone up because of demonetisation.
"The benefits of demonetisation depends on what the objectives are. The primary objective of demonetisation had to be (unearthing) of black money," he said at the Bandhan Bank's second anniversary celebration.
He said everybody agreed that the cost of demonetisation would be short term while benefits would come in long term.
Subbarao argued that demonetisation was not required for the digitisation drive and that the fourth quarter GDP slowed down substantially due to it.
Doraiah Chowdary Vundavally is a Software engineer at VTech . He is the news editor of SocialNews.XYZ and Freelance writer-contributes Telugu and English Columns on Films, Politics, and Gossips. He is the primary contributor for South Cinema Section of SocialNews.XYZ. His mission is to help to develop SocialNews.XYZ into a News website that has no bias or judgement towards any.
This website uses cookies.
