One can debate endlessly on the merits and demerits of demonetization exercise. The key factor would lie in having credible information on the jobs created in the informal sector, which was hit badly last year due to cash crunch.
The government must make all out efforts to identify those badly hit, extent of job losses, and dole out loans on soft terms to such entities so that they are able to stand back on their feet, with greater vigor and energy, besides creating many more jobs than what were lost.
Perhaps, the gains made by RBI via decrease in its liabilities on account of those notes which have not entered the banking system as yet, as well as from the unaccounted cash seized from various bank accounts or other sources, could part finance such an initiative.
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