In his first remarks after the 50-day deadline to deposit old notes lapsed on December 30, President Pranab Mukherjee on Thursday warned that Prime Minister Narendra Modi’s demonetisation drive may lead to a temporary slowdown of the economy. “Demonetisation, while immobilising black money and fighting corruption, may lead to temporary slowdown of the economy,” said President Pranab Mukherjee. The President added that the government must be “extra careful” to alleviate the suffering of the poor.
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