Demonetization while fighting corruption & black-money may lead to temporary slowdown in economy : President

05 January, New Delhi

President Pranab Mukherjee Thursday said demonetization, while immobilizing black money and fighting corruption may lead to temporary slowdown in the economy.

In his New Year Message to the Governors and Lt. Governors through Video Conferencing from Rashtrapati Bhavan, he said there is a need to remain extra careful to alleviate the suffering of the poor which might become unavoidable for the expected progress in the long term.

The President said while he appreciates the thrust on transition from entitlement approach to an entrepreneurial one for poverty alleviation, he is not too sure that the poor can wait that long. They need to get succour now so that they can also participate actively in the national march towards a future devoid of hunger, unemployment and exploitation.

Referring to assembly elections to be held in seven states this year, the President said, conduct of free and fair elections has made Indian democracy one of the most vibrant in the world. He said, elections are usually marked by competitive populism, electoral rhetoric and vote bank politics but goodwill must prevail between different communities.

He urged the Governors and Lt. Governors to play an important role in easing the tensions in the society through their interaction and wise counsel. Mukherjee said, tolerance, respect for contrary views and patience are a must in a pluralistic democracy and hese values have to be preserved.

Mukherjee said President, Governors and Lt. Governors as chancellors and visitors of various universities can work with the academic leaders to effect holistic changes for quality up-gradation in the institutions of higher learning.

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