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Demonetisation issue discussed at AU

By Correspondent

SILCHAR, Nov 20 - A panel discussion on �Recent Demonetisation and Indian Economy� was held at the Department of Economics, Assam University, Silchar on Friday.

The panel discussion was chaired by Prof Niranjan Roy, Dean, School of Economics and Commerce. Joydeep Biswas of Cachar College, Prof NB Dey, Emeritus Professor, Department of Commerce, Assam University, Prof MA Ansari, Department of Economics; Prof Alok Sen, Department of Economics; Prof AL Ghosh, Department of Business Administration; Dr Pradosh K Nath, Joint Registrar; Dr Brajesh Kumar, Department of Commerce.

While initiating the discussion, Prof Roy emphasised on the issue of recent demonetisation by the present Government and its probable impact on the Indian economy, like inflation, real estate sector, and recession. Three issues were raised by the panelists on the objective of demonetisation as announced by the Government, to curb terror funding, counterfeiting of currencies and to reduce black money. The participants discussed various aspects of Indian economy and were in consensus that the long-term effect of demonetisation will be more beneficial in the context of economic growth and redistribution of income and wealth with a view to egalitarian justice of the masses. The panelists also highlighted rampant corruption and generation of unaccounted money even by legal activities.

The recent hardship of the people at large as a result of shortage of currency notes in ATMs and banks were also discussed and debated by the panelists. It was also pointed out that even common people at large are resorting to other methods of payment like cheque, cards etc., which they believed is a very good sign of transition from cash economy.

However, the panelists also pointed out the fact that the management of demonetisation aftermath should have been more efficient and planned to avoid the recent chaos and hardship of the people.

Dr Avijit Debnath, Dr Raju Mandal and Dr Sagarika Dey from the Department of Economics, and Dr Anindya Syam Choudhury from the Department of English also participated in the interaction. Many students and scholars from the Department of Economics, Commerce and Political Science also participated in the interaction.

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