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Demonetisation: Demand likely to be normal by Q2 2017, says CII

Forbes said that government must remove cash withdrawal restrictions at the earliest

Press Trust of India  |  Gandhinagar 

Terming demonetisation as a right long term decision despite short term "disruptions", CII President Naushad Forbes has said consumer demand is expected to return to full normalcy in April-June quarter after seeing a 20 per cent fall in the 50-day period after the note ban. Forbes said that government must remove cash withdrawal restrictions at the earliest to give a "psychological boost" to consumers. That, he said, is the single action required from government to spur consumption. "I think an average consumer goods company is reporting a fall in demand of 20 ...

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