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Notes Ban Aims At Lowering Real Estate Prices Too: Arvind Subramanian | Read
Prime Minister Narendra Modi has said that his shock decision in November to scrap 86 per cent of the cash in circulation aims at exposing untaxed wealth and the proceeds of crime and corruption. Today, Chief Economic Advisor Arvind Subramanian added that "the aim of demonetisation, is in fact, to bring down real estate prices," a remark that spawned much lampooning on Twitter.
