The prominent economic and political commentator and convenor of the Swadeshi Jagran Manch (SJM) S Gurumurthy has said, the demonetization move is a bold step long overdue, adding that the action required a bold and courageous Prime Minister and its positive dividends would be known by the end of this financial year itselfIn an exclusive interview to Prasar Bharati in Chennai, Mr Gurumurthy expressed confidence that the national economy stands to gain by upto 5 lakh crore rupees in the short term in a single stroke by way of demonetization. He said the tax that is going to be collected for high value cash deposits upto 2 lakh crore rupees and the abolition of even higher amount of black money from the financial system would be beneficial to the nation. He highlighted the drop in incidences of violence in Jammu and Kashmir after the bold initiative saying, terror and Maoist violence would take a major hit, as their financing will be choked. Mr Gurumurthy lauded the public saying they have exercised self-control despite being subjected to long queues in banks and ATMs, and termed it as a reflection of their understanding the intention of demonetization move. The immediate fallout of the action would be reduction in interest rates and meaningful growth with probity in financial system. Fiscal situation of the nation would also vastly improve, he said.