Demonetisation may lead to temporary slowdown of economy: Mukherjee

“Will have to be extra careful to alleviate the suffering of the poor”

GN Bureau | January 5, 2017


#black money   #president   #Pranab Mukherjee   #demonetisation   #India   #economy  
President Pranab Mukherjee

Demonetisation, while immobilising black money and fighting corruption, may lead to temporary slowdown of the economy, said president Pranab Mukherjee on Thursday.

“We all will have to be extra careful to alleviate the suffering of the poor which might become unavoidable for the expected progress in the long term,” he said while delivering the New Year message to the governors/lt governors through video conferencing from Rashtrapati Bhavan.

The president said while he appreciates the thrust on transition from entitlement approach to an entrepreneurial one for poverty alleviation, he is not too sure that the poor can wait that long. They need to get succour here and now, so that they can also participate actively in the national march towards a future devoid of hunger, unemployment and exploitation.

The president said this year, there will be elections in as many as seven states and the dates for elections in five states have already been announced. The conduct of free and fair elections has made our democracy one of the most vibrant in the world. Elections reflect the attitudes, values and beliefs of the people towards their political environment. They symbolise the sovereignty of the people and provide legitimacy to the authority of the government. They also serve the purpose of regulation of public policies and mobilisation of public opinion.

He said that as we have all experienced, elections are usually marked by competitive populism, electoral rhetoric and vote bank politics. Governors and lt. governors through their interaction and wise counsel can play an important role in easing the tensions in the society. Goodwill must prevail between different communities.

The president went on to say that in a pluralistic democracy like ours, tolerance, respect for contrary views and patience are a must. These values have to be preserved. The multiplicity in culture, faith and language is what makes India special.

The president said the governors/lt. governors have a very important role to play in the improvement of higher education in their states. As chancellors and visitors of various universities, they can work with the academic leaders to effect holistic changes for quality up-gradation in the institutions of higher learning.
 

Comments

 

Other News

India ranks below Bangladesh, Nepal in inclusive development index

India has fared worse than its neighbours: Nepal, Bangladesh, Pakistan and China, in an inclusive development index. World Economic Forum’s Inclusive Growth and Development Report 2017 said that India, with a score of only 3.38, ranks 60th among the 79 developing economies on the IDI (inclu

Steel policy to boost steel production to 300 million tonnes by 2030-31

Minister of steel Chaudhary Birender Singh chaired a meeting of the parliamentary consultative committee attached to the ministry of steel in New Delhi on initiatives taken by the steel ministry to enhance demand and production of steel in the country and status of completion of projects by the PSUs. 

Manufacturing growth has underpinned India’s economic performance: ILO

Manufacturing growth has underpinned India’s recent economic performance, which may help buffer demand for the region’s commodity exporters, said an International Labour Organisation (ILO) report. The report “World Employment Social Outlook - Trends 2017” said that ec

Demonetisation expected to temporarily dampen India’s oil appetite: Analysts

The dramatic rise in India`s oil demand shows no signs of faltering, leading analysts say that the country will remain a driver of Asian growth in 2017.  Consumption is expected to rise by 7-8% this year, outpacing China`s demand growth for the third consecutive year, said Platts Analytics i

Railway Budget: A new track

This time of the year, the corridors of Rail Bhawan on Delhi’s Raisina Road, would normally have been abuzz with activity as officials would be at work tightening the nuts and bolts of the railway budget. The exercise was so time consuming, officials would have to sometimes go without sleep. The effo

Troll charge on information highway

Narendra Modi, the prime minister of India, is a great fan of Twitter and other social-media forums. As chief minister, this gave him a tech-savvy image, helping to connect with youngsters. As prime minister, he has taken his love for social media to new heights, asking the ministers and ministries to incr

Video

Current Issue

Opinion

Facebook    Twitter    Google Plus    Linkedin    Subscribe Newsletter

Twitter