Speculations about fall in GDP based on anecdotal evidence, says Shaktikanta Das

Dismissing rumours of a fall in GDP post the 'notebandi', Shaktikanta Das, Secretary, Economic Affairs, claimed Tuesday that all speculations regarding current GDP are based on anecdotes, rather than statistics.

Speaking to the media here today, Das revealed that all rumours that surfaced regarding the nnegative impact of demonetization were not on the basis of any statistical evidence.

"At the minute, this year's GDP is around seven percent, based on available numbers. Nothing can be deciphered on anecdotal evidence," said Das.

Furthermore, Das stated that there is an increase in flow of currency in the economy, adding that demonetization is being simultaneously countered by 'remonetisation.'

"Demonetisation only impacted consumption in some cities, since most purchases happened on credit or debit cards. The so-called negative impact, if relevant, was only temporary," Das added.

Speaking on the fake-currency printing debacle, Das revealed that nothing has been brought to his notice, apart from certain ATMs giving out fake notes. He added that if found, this matter will be treated with utmost attention.

"There have been reports about fake currency being dispensed in ATMs. Currently, nothing can be said since the matter is being investigated by the police," Das added.