Amritsar: Renowned economist and former Director General of Centre for Research in Rural and Industrial Development (CRRID), Chandigarh Dr.Sucha Singh Gill today found holes in the policy to implement the demonetization by the Centre government. He also expressed doubts that weather the demonetization will achieve the goals of fully curtailing the growth of black money and total digitization of the economy.
Dr Gill was speaking at the seminar on demonetization at Khalsa University (KU) here today. He said prime Minister Narendra Modi had had aimed to reduce corruption, end terrorism and get rid of counterfeit notes but the targets are yet to be achieved. Another economist Dr. Satish Verma also stated that though aims were high but the implementation of the whole process was full of flaws.
``The demonetization is not a scientific method and the government is not able to meet the objectives laid down by Modi'', said he adding that the cashless transactions, electronic or internet facilities are required but there is lack of facilities as well as awareness among the masses. KU Vice chancellor Dr. SS Chahal who earlier welcomed the guest speakers meanwhile said in his presidential speech discussed about the short term and medium term advantages and disadvantages of the demonetization.
KU pro-chancellor Rajinder Mohan Singh china said in his inaugural address that Modi government had taken a daring step to check the black money. He said there are some challenges and problems being faced by the small business, traders and general public but those would be short lived. Journalist Varinder Walia whow as chief guest at the seminar also spoke positive and negative effects on the economy by the ban on 85.5 per cent currency. He also asked the media to play positive and active role in highlighting the impact of the decision on general public.
Registrar of KU Dr JS Dhillon said that there should be proper mechanism for hearing the complaints of the affected people related to monetory transactions. VC and Registrar earlier welcomed the guests with mementoes and bouquets.