Note ban led to temporary economic slowdown, says President in R-Day speech

But he expressed hope that the move will improve the transparency of the economy

In his Republic Day eve address to the nation, President Pranab Mukherjee said demonetisation led to a temporary slowdown of economic activity, but expressed hope that the move will improve the transparency of the economy as more and more transactions become cashless.

In his address, the President touched upon several current issues, including the need to ensure the “well-being of our soldiers and security personnel who protect us from internal and external threats.” In recent months, soldiers and paramilitary personnel have complained about mistreatment and lack of proper food.

The President, whose five-year term ends this July, said India has