Demonetization effect on the Indian economy will be long-term: Jaitley

Bhubaneshwar: Union Finance Minister Arun Jaitley today stated that the effect of demonetization on Indian economy will be long term and the problems faced by the people will last only for one or two quarters.

Jaitley was present at the ‘Made in Odisha Conclave’ and there he stated: “The effect of demonetisation will remain for one or two quarters, but its effect on the economy will be seen in the long term.”

He further showed gratitude to Odisha Chief Minister Naveen Patnaik for supporting the Centre on demonetisation and the GST (Goods and Services Tax).

Jaitley on Odisha’s high growth rate this year said: “If Odisha’s state gross domestic product grows faster than the national GDP, it will help in improving the national GDP.”