Cash ban positive in long-run; investment push needed: Experts

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While there will be a drop in the Gross Domestic Product (GDP) in the short-run due to demonetisation, it is a good step, Aditya Puri, MD of HDFC Bank

said.

Puri, who heads CNBC-TV18’s India Business Leader Awards (IBLA) jury, further said that if demonetisation is executed as envisaged, then it will bring in a lot of efficiencies.

A growth rate of 7.5-8 percent is possible for India, according to Puri.

Speaking on non-performing loans (NPAs), SBI

chief Arundhati Bhattacharya said that many large NPAs are now becoming operating project and some resolution is coming in large ticket NPAs.

While demonetisation has hit business confidence, it will help move financing of small businesses to official channels, she added.

The experts of the IBLA jury are cautiously optimistic for 2017.

Shikha Sharma of Axis Bank

said that consumption and investment need to kick-start for growth. Post cash crunch, recovery has been much faster, she added.

The Goods & Services Tax (GST) is a worry, said Harsh Mariwalla, Chairman of Marico

.

It is important for the government to find right factors of growth, believes Sanjay Nayar, CEO of KKR India. Investment led factors, especially private investment, are needed.