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A revolutionary step may have initial hiccups: Venkaiah Naidu
He said the demonetisation of higher currency notes had to be implemented with all secrecy as otherwise the people would have "taken care of" their ill-gotten wealth.
New Delhi, Nov 15 Stressing that any shortage in supply of currency is being taken care of by the government, Union minister M Venkaiah Naidu today said that a revolutionary or transformative step may have initial hiccups, but it gives long-term gains.
He said the demonetisation of higher currency notes had to be implemented with all secrecy as otherwise the people would have "taken care of" their ill-gotten wealth.
LIVE: PM and Govt. firmly believe that country is made up of mostly honest people; but nation suffering due to dishonest minority: I&B Min. pic.twitter.com/PfFcAE2QnT
— PIB India (@PIB_India) November 15, 2016
"Thereby interest rates will be reduced, prices will be reduced, spending on the poorer will also increase, fiscal deficit will come down considerably," he said.
(With agency inputs)
OneIndia News
