Note ban may hit economy - President Pranab Mukherjee


Prez tells Guvs to ease tensions through wise counsel

New Delhi, Jan 6 (DHNS): President Pranab Mukherjee, among the first to hail Prime Minister Narendra Modi’s decision to demonetise high value currency notes, has said the move would temporarily slow down the economy, despite immobilising black money.

“We will have to be extra careful to alleviate the suffering of the poor which might become unavoidable for the expected progress in the long term,” he told Governors and Lt Governors during his New Year address to them through video conferencing.

“While I appreciate the thrust on transition from entitlement approach to an entrepreneurial one for poverty alleviation, I am not too sure that the poor can wait that long.

“They need to get succour here and now, so that they can also participate actively in the national march towards a future devoid of hunger, unemployment and exploitation,” Mukherjee said. The package announced by the Prime Minister would offer some relief, he added. Referring to the recent announcement of elections to the five state Assemblies, the President said: “We have all experienced, elections are usually marked by competitive populism, electoral rhetoric and vote bank politics.” Through interaction and wise counsel, Governors and Lieutenant Governors could play an important role in easing tensions in society.

“Goodwill must prevail between different communities. In a pluralistic democracy like ours, tolerance, respect for contrary views and patience are a must. These values have to be preserved. The multiplicity in culture, faith and language is what makes India special,” he said.

  

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Comment on this article

  • SMR, Karkala

    Fri, Jan 06 2017

    Our President finally spoke after more than 100 deaths awaiting for their own money.

    Jai Hind

    DisAgree Agree [3] Reply Report Abuse

  • Juliet mascarenhas, Bejai

    Fri, Jan 06 2017

    Indian Economy will fall back to the position of 1947 and if the same Gov continues it will take another 70 years to restore the economic position of march 2014.

    DisAgree [2] Agree [4] Reply Report Abuse

  • Sunil K, Mangalore

    Fri, Jan 06 2017

    The President was a former Finance Minster - shouldn't he have counselled the Government not to take the rash decision ?

    Wonder why we still need a President, Governors in a democracy. Our former President was well known for her world tours.

    DisAgree [1] Agree [4] Reply Report Abuse

  • Juliet mascarenhas, Bejai

    Fri, Jan 06 2017

    Do we need a dictator in a Democratic country.

    DisAgree [2] Agree [4] Reply Report Abuse

  • G R PRABHU., Mangalore

    Fri, Jan 06 2017

    He signed the order for Demonitisetion. Now he is regretting. This is the fate of our country.

    DisAgree [1] Agree [5] Reply Report Abuse

  • Vincent Rodrigues., Frazer Town,Bangalore

    Fri, Jan 06 2017

    Many have lost the job and factories are some closed and some are working but not to the full capacity. Really it has negative effect on our economy and the growth of the nation

    DisAgree [4] Agree [17] Reply Report Abuse

  • MN, Mangalore

    Fri, Jan 06 2017

    Appreciate and salute sincere effort of the government.

    DisAgree [20] Agree [6] Reply Report Abuse

  • Jossey Saldanha, Mumbai

    Fri, Jan 06 2017

    Modi has put us 60 years behind ...

    DisAgree [11] Agree [44] Reply Report Abuse

  • RonRon, Udupi

    Fri, Jan 06 2017

    What....The President of India is also an anti national!!!!!

    DisAgree [10] Agree [33] Reply Report Abuse

  • Ravi C, Mangalore

    Fri, Jan 06 2017

    President reiterates what MMS said earlier.

    DisAgree [6] Agree [34] Reply Report Abuse

  • ashok, mangalore

    Fri, Jan 06 2017

    Mr. Prabhu who is preaching patriotism they are the people having black money. they want cash transaction. same like cow issue

    DisAgree [2] Agree [35] Reply Report Abuse

  • Jossey Saldanha, Mumbai

    Fri, Jan 06 2017

    97% of banned currency is back in Banks.

    This proves the entire Demonetization exercise was a big flop.

    Millions of man hours were lost waiting in queues.

    This is going to hit our economy & GDP.

    Modi has put has 60 years behind ...

    DisAgree [12] Agree [61] Reply Report Abuse

  • The Guru, Mangalore

    Fri, Jan 06 2017

    Jossey Saldanha, Mumbai

    can you give me the proof of what you are claiming as 97%? did anyone tell you or are you quoting the news papers..


    DisAgree [26] Agree [7] Reply Report Abuse

  • Jossey Saldanha, Mumbai

    Fri, Jan 06 2017

    Indianexpress.com ...

    DisAgree [6] Agree [23] Reply Report Abuse

  • The Guru, Mangalore

    Fri, Jan 06 2017

    The Guru, Mangalore

    Hahahahaha. News papers is not the proof, do you have valid documents to prove your claim..

    If we go as per the newspaper then Sonia Gandhi would have been hanged by now

    DisAgree [12] Agree [5] Report Abuse

  • Jossey Saldanha, Mumbai

    Fri, Jan 06 2017

    Figures from RBI after 30 December 2016 deadline ...

    DisAgree [2] Agree [12] Report Abuse

  • Asok Salian, Mangalore

    Fri, Jan 06 2017

    Guru

    Petrol prices were increased 8 times within a year

    DisAgree [1] Agree [10] Reply Report Abuse

  • The Guru, Mangalore

    Fri, Jan 06 2017

    Asok Salian, Mangalore

    Ya its increased, don't use petrol use water instead

    DisAgree [6] Agree [2] Report Abuse

  • KRPrabhu, Kudla/Bangalore

    Fri, Jan 06 2017

    Economy will hit either way by note ban and allowing black money hoarders scotfree.
    Choice is ours...

    DisAgree [43] Agree [19] Reply Report Abuse

  • Santan Mascarenhas, Kinnigoli/Mumbai

    Fri, Jan 06 2017

    Dear President

    Why the same rhetoric beating around the bush. As the no.1 citizen, use your adrenaline and say what you have decided on the opposition request to postpone the budget ?


    DisAgree [2] Agree [42] Reply Report Abuse


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