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5.4 lakh new tax payers added post demonetisation, says CEA Arvind Subramanian

'Farmer loans are going to have a deflationary, not inflationary effect if States’ borrowing limit is not raised.'

August 12, 2017 11:53 am | Updated 12:08 pm IST - New Delhi

Chief Economic Adviser Arvind Subramanian on Friday said that about 5.4 lakh new tax payers have been added post demonetisation period.

While speaking at the Economic Survey 2016-17, Mr. Arvind praised the Goods and Services Tax (GST) and called it an astonishing feat of administration. 

He also said that farmer loans are going to have a deflationary, not inflationary effect if States’ borrowing limit is not raised.

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