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Demonetisation Will Have Positive Impact On GDP: Minister

Union Minister of State for Finance and Corporate Affairs Arjun Ram Meghwal rejects Manmohan Singh's prediction that GDP would drop by 2 per cent because of demonetisation

Demonetisation won't lead to a fall in the country's GDP, but will have a multiplier positive effect, said Arjun Ram Meghwal, Union Minister of State for Finance and Corporate Affairs.

He was reacting to former Prime Minister Manmohan Singh's prediction that the GDP would drop by 2 per cent because of the disruption caused by demonetisation.

"We will create a level playing field for all players in the country post-demonetisation," Meghwal said, speaking at the BW Businessworld Young Entrepreneurs Summit and Awards 2016 on Friday.

Meghwal stated how entrepreneurs shouldn't resort to shortcuts in life and do it with utmost integrity and sanctity.

Entrepreneurs must make the most of opportunities using honest and right channels, he added.

Anurag Batra, Chairman of BW Businessworld, in talk with Meghwal at the award ceremony, questioned him regarding the challenges as a policymaker with respect to the budget 2017.

Meghwal replied that it's too early to comment as the Budget is still in the pre-consultation process.

However, he revealed that the government is meeting with the heads of all sectors like the IT, agriculture, social development among others.

Applauding the 13 winners of the BW Businessworld YEA 2016, 12 of whom are first generation entrepreneurs, Meghwal said that it's a great feat achieved by this young breed who have carved a niche for themselves in their respective fields.

BW Businessworld conceptualized and hosted its 3rd Young Entrepreneur Summit & Awards 2016, where startups that have transformed the Indian entrepreneurial ecosystem were identified, acknowledged, celebrated and awarded.

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