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
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

Aero India 2019 kicks off in Bengaluru

Five day long Aero India -2019 organised by Hindustan Aeronautics Limited (HAL) was inaugurated at Air Force Station, Yelahanka, Bengaluru on Wednesday.   The French origin Rafale fighter jets are also participating in the event.   Asia’ largest

BHEL builds India’s first regenerative 5,000 HP electric locomotive

In a major technological breakthrough, BHEL has developed the country’s first such regenerative 5,000 horse power (HP) WAG-7 electric locomotive with a modern regeneration system for Indian Railways.   The electric loco was flagged-off by member traction, railway board, Gha

Prime Minister dedicates Rs 33,000 crore projects in Begusarai

Prime Minister Narendra Modi dedicated a host of developmental projects at Ulao airport in Begusarai, Bihar. Modi said these projects will fuel the progress of Bihar and the eastern states. He said that Bihar had the potential to play a pivotal role in driving the growth of the country. “The

IOCL finalises term contract for import of US crude oil grades

IndianOil Corporation has finalised a term contract for import of up to three MMT (million metric tonnes) of crude oil of US origin grades to diversify term crude sources in 2019-20 fiscal. The enterprise has finalised the contact on February 15, 2019.   The value of the cont

For a healthy tomorrow

When Dr Shruti Kamdi (pictured on left), a transfusion specialist at a leading Mumbai hospital, had her first child, she struggled to nurse her baby as she was unable to secrete enough milk. Admitted to a private hospital, she was put on medication to increase breast milk. But that didn’t help much.

Reinvigorating reinsurance

After the liberalisation of the insurance industry in 2000, private firms (mostly in partnerships with foreign firms) have readily taken to the sector. Till FY18 there were 23 private firms in the life insurance sector and 21 in general insurance segment. However, it was only in 2016-17 that the first priv

Current Issue

Current Issue

Video

CM Nitish’s convoy attacked in Buxar

Opinion

Facebook    Twitter    Google Plus    Linkedin    Subscribe Newsletter

Twitter