Demonetisation had no effect

New Delhi: India still continues to be the fastest growing economy and demonetisation has had no effect on the Indian economy, Finance Minister Nirmala Sitharaman told the Rajya Sabha on Tuesday.

The minister, while responding to supplementaries during the Question Hour, said the manufacturing sector has had a certain fall, but it is not attributable to demonetisation.

She said economic growth is high on the agenda of the Government and various reforms are being undertaken in many spheres to improve GDP growth.

Sitharaman said the moderation in growth momentum in 2018-19 is primarily on account of lower growth in 'Agriculture and allied', 'trade, hotel, transport, storage, communication and services related to broadcasting' and 'public administration and defence' sectors," she said.