Despite demonetisation, India’s GDP growth stays 7 per cent: Govt data
India GDP growth: The numbers released today show that growth decelerated to 7.0 per cent in October-December quarter even as sectoral data reflected minimal impact of demonetisation on account of a sharp rise in agricultural growth and a pickup in manufacturing sector growth.
The economy clocked a faster-than-expected growth of 7 per cent in fiscal third quarter, notwithstanding the demonetisation of high-value banknotes in November and the resultant impact on output and well as consumption. Data released by the Central Statistics Office (CSO) on Tuesday showed that the rate of economic growth in the three months ending December slowed marginally from the 7.4 per cent in the preceding quarter. The Statistics office stuck to its last month’s projection that the economy will grow at 7.1 per cent in the year to March, in line with the advance estimate of GDP growth released in January. GDP growth was pegged at 7.9 per cent in the previous financial year.
Credit: indianexpress.com