Demonetisation Will Leave 'Very Positive' Impact On Economy : Panagariya

Niti Aayog Vice-Chairman and Professor of Economics Arvind Panagariya opined that in long run demonetisation move will make a 'very positive' impact on Indian economy, as more and more people will shift towards digital transactions. Speaking to media he told "Financial inter-mediation has been increased after deposits in the bank accounts. Which means the capital that was privately invested will be invested through the financial institutions from now. This would have a positive impact on the economy. It surely increase our efficiency of transactions as we shift towards digitised transactions." Where as in contrary to Panagariya's views, many rating agencies, analysts and economists have aired their apprehensions that currency ban may possibly pull down the economic growth. Over such concerns Panagaria replied "Everyone is expressing their personal views. But it has to be analysed what happens quantitatively."