Economists and experts across Madhya Pradesh have predicted a long-term advantage of demonetisation, with a rider that India has to wait at least till March 2017 to see the end to the liquidity crunch. Economist and expert said, the demand slowdown will continue until the liquidity crunch gets over, and it will take at least a quarter for demand to pick up. Regional director of PHD Chamber of Commerce and Industry, RG Dwivedi, said, that in the past 50 days, the banking and commerce sector has become more organised. Agriculture amounts to nearly 40% of the GDP in Madhya Pradesh. Suggesting an immediate solution, expert said, the banking sector should slash home loan rates up to 7% and give rebate on principal and interest repayment. This will encourage people to invest and banks will receive cash, which will help stabilise the economy up to a large extent.
News On AIR | December 31, 2016 7:52 AM
MP: Economists and experts predicts long term advantages of demonetisation