The Prime Minister Narendra Modi has admitted that recent note ban of high currency notes has caused short term pain. The PM indicated that the government will not shy away at unleashing radical reforms. 

"Government will continue to follow sound and prudent economic policies, to ensure that India has a bright future in the long run. We will not take decisions for short term political point scoring. We will not shy away from taking difficult decisions, if those decisions are in the interest of the country. Demonetisation is an example. It has short term pain but will bring long term gain," PM Modi said at inauguration of National Institute of Securities Markets (NISM) campus at Patalganga. 

Commenting on ongoing war between centre and states on the implementation of GST, PM said that it will be a biggest financial reform in the history.