Demonetisation would help economic growth and bring down inflation: Venkaiah Naidu

New Delhi, Nov 15 (KNN) De- Monetisation of Rs 500 and Rs 1000 currency notes has been the biggest reform since independence which broke the backbone of arms smugglers, drug traffickers, counterfeit currency & Hawala operators and our neighbour which was aiding, abetting and funding black money in the country, said Union Minister Venkaiah Naidu.

He said demonetization would help economic growth of the country and would bring down the inflation.

The Minister stated this while addressing the legislators at the workshop focusing on the "Role of Infrastructure in States" at National Institute of Public Finance and Policy here today.

Populist measures in the past negatively impacted the investment in core sectors thereby negating the creation of long term assets and skills upgradation, said Naidu adding that as a consequence, the focus on freebees neglected investment in core sectors.

Naidu, the Minister for Urban Development, Housing and Urban Poverty Alleviation and Information & Broadcasting, said the Government was currently focussing on development of infrastructure and social sector based on the mantra that Growth and Welfare were integrally linked.

Naidu while mentioning the current status of Smart City Mission, mentioned that the Smart City Plan was running ahead of schedule. 60 of the 100 cities were on course of implementation already. 82 projects were already under implementation by the first batch of 20 smart cities and another 113 projects would soon start. (KNN Bureau)