New Delhi: The cash in the Indian economy will not be same as it was before the note ban was announced on November 8. NITI Ayog CEO Amitabh Kant said on Wednesday that the total cash which will be ploughed back into the market will be to the tune of around Rs 11 lakh crore
Speaking exclusively at News24 Conclave, News24MoneyManthan, Kant said that not the entire cash of Rs 16 lakh crore that is expected to be deposited in banks will come back into economy. Kand said that too much cash is not good for the economy as it may again give birth to a black money. Additionally, too much cash will defeat the purpose of moving towards a cashless economy.
Part of the PM Narendra Modi think tank on note ban and cashless economy, Kant said that the cash situation will ease within the next 15 days.