{"id":4223,"date":"2017-03-08T06:14:32","date_gmt":"2017-03-08T06:14:32","guid":{"rendered":"https:\/\/sunkrish.com\/?p=4223"},"modified":"2017-03-15T13:02:43","modified_gmt":"2017-03-15T13:02:43","slug":"world-bank-ceo-lauds-demonetisation-says-economy-will-see-positive-impact","status":"publish","type":"post","link":"https:\/\/sunkrish.com\/index.php\/2017\/03\/08\/world-bank-ceo-lauds-demonetisation-says-economy-will-see-positive-impact\/","title":{"rendered":"World Bank CEO lauds demonetisation, says economy will see positive impact"},"content":{"rendered":"
\"\"<\/a>
World Bank CEO Kristalina Georgieva pegs India\u2019s GDP growth rate at 7% for 2016-17, says ongoing reforms, GST implementation augur well for the economy<\/em><\/figcaption><\/figure>\n

The government\u2019s decision to ban high-value banknotes as part of efforts to stamp out corruption will have a profound and positive impact on India\u2019s economy, World Bank chief executive Kristalina Georgieva said.<\/p>\n

Demonetisation may have caused some hardship to people living in the cash economy but in the long run the move will help foster a clean and digitized economy, Georgieva said.<\/p>\n

\u201cWhat India has done will be studied (by other countries). There hasn\u2019t been such demonetisation in a country so big,\u201d Georgieva told Hindustan Times<\/i> in an interview late on Wednesday.<\/p>\n

The World Bank CEO\u2019s appreciation for the 8 November move which banned Rs500 and Rs1,000 bills, comes after the International Monetary Fund said in November that it supported India\u2019s efforts to fight corruption through currency control measures.<\/p>\n

Georgieva compared the move to that of the European Union, which is also phasing out high denomination bills but over a longer period of time.<\/p>\n

\u201cWhile demonetisation has, in the short term, created some impact on businesses dependent on cash, in the long term the impact will be positive\u2026 The reforms India is targeting are profound,\u201d she said.<\/p>\n

She also said the government\u2019s financial inclusion programme along with the move towards digital payments and direct transfer of subsidies will help the poor.<\/p>\n

Georgieva, who was in India for two days, travelled on a local train in Mumbai and visited the world\u2019s biggest slum in Dharavi. She said she found that people were eager to get a better life and were willing to pay more for improved services. Georgieva also appreciated the competition among states to improve ease of doing business. \u201cIndia is the bright spot in today\u2019s global economy and it is visible in the country\u2019s performance and more so in the aspirations of the people here,\u201d she said.<\/p>\n

\u201cOur growth projection for India for this year is 7%. The signs are positive with the reform process underway and GST (goods and services tax) expected to be implemented soon.\u201d<\/p>\n

 <\/p>\n

Source: http:\/\/www.livemint.com\/Politics\/dwHIa9twClc2ZNrHFgYBoL\/World-Bank-CEO-lauds-demonetisation-says-economy-will-see-p.html<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

The government\u2019s decision to ban high-value banknotes as part of efforts to stamp out corruption will have a profound and positive impact on India\u2019s economy, World Bank chief executive Kristalina Georgieva said. Demonetisation may have caused some hardship to people … Continued<\/a><\/p>\n","protected":false},"author":1,"featured_media":4224,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[4,493,5],"tags":[903,535,935,465],"class_list":["post-4223","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-financial-corporate-services","category-economy-business-updates-corporate-affairs","category-india-international-corporate-updates","tag-demonetisation","tag-goods-and-services-tax-gst","tag-kristalina-georgieva","tag-world-bank"],"_links":{"self":[{"href":"https:\/\/sunkrish.com\/index.php\/wp-json\/wp\/v2\/posts\/4223","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/sunkrish.com\/index.php\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/sunkrish.com\/index.php\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/sunkrish.com\/index.php\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/sunkrish.com\/index.php\/wp-json\/wp\/v2\/comments?post=4223"}],"version-history":[{"count":2,"href":"https:\/\/sunkrish.com\/index.php\/wp-json\/wp\/v2\/posts\/4223\/revisions"}],"predecessor-version":[{"id":4226,"href":"https:\/\/sunkrish.com\/index.php\/wp-json\/wp\/v2\/posts\/4223\/revisions\/4226"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/sunkrish.com\/index.php\/wp-json\/wp\/v2\/media\/4224"}],"wp:attachment":[{"href":"https:\/\/sunkrish.com\/index.php\/wp-json\/wp\/v2\/media?parent=4223"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/sunkrish.com\/index.php\/wp-json\/wp\/v2\/categories?post=4223"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/sunkrish.com\/index.php\/wp-json\/wp\/v2\/tags?post=4223"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}