New Delhi, Dec 26 (KNN) As there is lot of anticipation over GDP post demonetization, Economists are foreseeing that fall in GDP growth will be an additional hit on industries which are already going through a bad phase.

While talking to KNN, Economist Manika Premsingh said “Industry has hardly shown growth in the financial year so far. With demonetisation likely to impact overall growth, it is evident that the situation will get even worse for industry. This, is particularly so since a financial year is a busy season for the sector.”

Premsingh, Economist & Founder, Orbis Economics, said, “There has been a hit to all economic agents on account of demonetisation which is unquestionable. Even though it has been 50 days since the start of the demonetisation drive, we don’t see a return to normalcy. For one, the cash withdrawal limit from ATMs is still quite low, banks themselves are running low on cash, which makes even withdrawals through cheques difficult. This has impacted everyone and continues to do so.”

The Telangana Government, citing the GDP figure, appealed to Reserve Bank of India (RBI) for new currency, demanding it should get additional rupess 9,296 crore by end of December.

As per the RBI figures, about rupees 6 lakh crore worth new currency notes were supplied to all states in the last 45 days. Telangana government is not satisfied as it received only rupees 20,704 crore out of said figure by RBI, till last Friday. The state government wrote to the Centre, demanding it should get another rupees 9,296 crore worth currency by end of December.

According to the statement of Telangana Finance Minister Etala Rajender, the state has 5% share in the national GDP, so based on this, it should get 5 per cent of currency supplied to various states.

He added that from the total dispatches of rupees 6 lakh crore worth of currency notes, it should get at least rupees 30,000 crore but it has received only rupees 20,704 crore.

Chief minister K. Chandrasekhar Rao asked his MPs and special representatives in New Delhi to take up the matter with Union finance ministry which is gearing up to dispatch huge supplies in the last week of December. (KNN/RAS)