S S Mundra, former deputy governor of Reserve Bank of India, on Tuesday said that the ‘by-products’ of demonetisation could turn out to be more ‘valuable’ than the main purpose behind the move.
The key ‘by-products’ of demonetisation include
- better tax compliance and
- bringing in more resources into the formal economy,
Mundra told newspersons on the sidelines of the annual general meeting of The Bengal Chamber of Commerce and Industry here on Tuesday.
Drawing a comparison between demonetisation and manufacturing sector, Mundra said, “In case of certain manufacturing industry we see that the by-products are more valuable than the main products. This can be compared to demonetisation.”