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Demonetisation: FinMin finds it tough to gauge note ban's economic impact

The government was asked whether Indian economy was stagnant due to demonetisation, which was announced in November last year

Press Trust of India  |  New Delhi 

Demonetisation: Flawed in planning, not in principle

The finance ministry today said it is difficult to "pinpoint" the impact of on the economy and affirmed that there was no stagnation.

The overall growth of the is dependent on many factors, including the rate of capital formation and savings and utilisation of technology, among others, said Minister of State for Finance in a written reply to the Rajya Sabha.

"It is difficult to pinpoint the impact of demonetisation," the minister said.

The government was asked whether was stagnant due to demonetisation, which was announced in November last year.

"is not facing stagnation," the minister replied.

To support his argument, Radhakrishnan said the growth in second quarter of the fiscal increased to 6.3 per cent, as compared to 5.7 per cent in April-June period.

First Published: Tue, December 19 2017. 16:50 IST