Demonetisation Has Slowed Down Country's Economy: Akhilesh Yadav
Demonetisation has slowed down the country's economy and it would take 6 to 12 months to normalise the situation, Uttar Pradesh Chief Minister Akhilesh Yadav said on Thursday.
File Image of Uttar Pradesh Chief Minister, Akhilesh Yadav. (Picture courtesy: Getty Images)
Lucknow: Demonetisation has slowed down the country's economy and it would take 6 to 12 months to normalise the situation, Uttar Pradesh Chief Minister Akhilesh Yadav said on Thursday.
"December 1 has arrived. Salaries are to come in bank accounts but how much money one will get (withdraw) is not certain. There is no word on when these queues (outside banks) will end. The decision has slowed down the entire economy and it will take over six months to a year to normalise the situation," he said.
Akhilesh claimed that the government was frequently changing its stand and it was saying the situation will be under control by month-end.
"But, I don't think it will become normal before 6 to 12 months," he said.
The chief minister was addressing a gathering after kick-starting the trial run of Lucknow metro here.
"Economy gets a boost when one spends. Stopping one from spending will affect development. This (demonetisation) is to create complications. We have sought details as to how much money banks are getting but we have not got the information," said the UP Chief Minister.
Recommended For You
- Women's World Cup 2017: We Crumbled Under Pressure, Admits Mithali
- Apple iPad Pro 10.5-Inch Review: The Ecosystem That you Always Needed
- Lipstick Under My Burkha Review: An Honest Film That Hits Right Notes
- Box Office Collections: Lisptick Under My Burkha To Overtake Munna Michael?
- Pahlaj Nihalani Explains The Need To Cut Words In Amartya Sen Documentary