Did Modi Fool the People on New Year’s Eve?

Prime Minister Narendra Modi had addressed the Nation for the first time after the Demonetization on the Night of December 31st. Thanking the people for their cooperation, the Prime Minister announced a slew of welfare measures for the poor, pregnant women and farmers on the eve of the New Year.

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But then these sops are not that of great impact and a research say the overall fiscal impact of all these measures announced by the Prime Minister on 31 December, will be just around Rs3500 crore per year. This is nowhere near what the country lost due to the 50 days of Demonetization.

According to an estimate, at least Two Lakh Crore economy was hurt due to the cash crunch. So, it has to be seen if there are more sops going to be out in the Budget that will be tabled by Finance Minister Arun Jaitley early the next month.