Black Money – Domestic and International Efforts

Demonetisation could cut inflation, says Panagariya

  1. Source: NITI Aayog vice chairman Arvind Panagariya
  2. Views: The Centre’s demonetisation drive will help lower inflation
  3. Also as the black money goes out of the system, the money supply will shrink to some degree
  4. This will reduce the inflation rate in the absence of any open market operations by the RBI
  5. Savings that were kept in different forms particularly in the form of currency notes, they will now move into bank deposits. So we will see some surge in bank deposits

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