Mysuru: Demonetisation probably should have been a quiet economic exercise but for obvious reasons it became a sensational issue said Yashvanth Dongre, In-charge Vice Chancellor of University of Mysore.
Speaking after inaugurating a UGC-sponsored one-day national conference on “Digital Economy in India: The Challenges Ahead” at Vidyavardhaka First Grade College, PG Centre at its auditorium here on Saturday he said, “Obviously this seminar is motivated by the aftermath of demonetisation. I am particularly happy that this seminar did not choose to focus on demonetisation as a theme but instead focused on digital economy which I think is a very important way of looking at things. Sometimes events take a different shape than what is desired and when it happens with a touch of politics you get a feeling that may be demonetisation should have been a quiet economic exercise but for obvious reasons it became a sensational issue. When it became sensational, I think much of the talk about the demonetisation takes place at populist level. A serious scrutiny of what it is, its mechanism and its impact on economy hardly comes to limelight”.
“There is quite few serious observations on the whole process. For the first time when demonetisation happened before independence, nobody knew what was that. The second time when Rs 5000 notes were withdrawn not much of discussion surrounded the move but this time around there was a hype. Hence going by the hype, the spillover effect is very important. How we are going to address the issue pertaining to specific sectors especially rural economy, agricultural economy, small business where cash transactions are normal is important. When it comes to policy we need to understand the technicalities, difficulties and challenges and if not what should be done”, added Dongre. D Rajasekhar, during his keynote address touched on prominent issues including mobile internet coverage, power supply, affordability, financial and digital literacy and banking infrastructure in particular.
The objective of the conference was to understand the concepts and operationalisation of digital economy; discuss the benefits and challenges of digital economy in India; throw light on the various economic advantages of digitisation; discuss the issues in connection with digital economy and provide a platform for academicians, scholars and students to deliberate on the intricacies of digital economy and fiscal discipline in the country.
President of Vidya Vardhaka Sangha Gundappa Gowda, Secreatry P Vishwanath, Treasurer S N Lakshminarayana, Vidya Vardhaka First Grade College Principal M Shivalinge Gowda and S Mari Gowda, HOD, Commerce, PG Centre were present on the occasion.
