Niti Ayog Vice Chairman Arvind Panagariya has said that demonetisation of 500 and 1000 rupees notes will bring down inflation. Addressing the Economic Editors' Conference in New Delhi today, he said, now more transactions will go through the banking system. Mr Panagariya said, NITI Ayog is in process of formulating a 15 year vision, seven year strategy and three year action plan. <br/><br/>He said, significant progress has been made in schemes such as Swachh Bharat and Skill India, based on the Ayog's reports. He also said, good progress is being made in collaboration with states in the spirit of cooperative federalism.<br/><br/>He stressed on the necessity to give farmers a better price for their produce, and thereby double farmers' income. Mr Panagariya informed that model land leasing law has been formulated and adopted by two states. He added that very positive reception from states was given to relaxing land leasing laws.