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Printing of notes is planned as per requirement, and now, 2,000 rupee notes constitutes 35 per cent by value of the total circulation, Garg added.
The country's Gross Domestic Product during the entire fiscal in consideration grew at a lower rate of 7.1 per cent.
India is Nepal's largest trade partner and supplies the majority of its consumer goods.
Terming the upcoming meeting historic, Naidu said the TDP and Congress fought each other for 37 years but have now come together for the sake of the country and democracy.
The detractors of the government had said that the prime minister had not consulted the CEA on the crucial decision.
The governor said the economy would get a boost from oil prices cooling off from four-year highs and asserted that the fundamentals were "robust".
Next govt will correct Modi's mistakes, says Yashwant Sinha at Congress event.
Gurumurthy, who was appointed to the board of RBI a few months back, said the capital adequacy ratio prescribed in India is 1 per cent higher than the global Basel norms.
The senior Congress leader asked the government to not resort to further unorthodox, short-term economic measures that can cause any more uncertainty in the economy.
When prime minister Narendra Modi announced the scrapping of 1,000-rupee and 500-rupee notes on November 8, 2016, he claimed it was a fight against corruption, black money and terrorism.