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GDP growth set to fall to 7.1% in FY17
Highlights
India’s economic growth is likely to decelerate to 7.1% in 2016-17 from 7.6% in the previous year, the statistics department said on Friday.
New Delhi: India’s economic growth is likely to decelerate to 7.1% in 2016-17 from 7.6% in the previous year, the statistics department said on Friday.
The growth projection by the Central Statistics Office has been released a month before it was due to help the government prepare the budget, which also has been advanced by a month to February 1.
The currency crunch that followed the demonetisation is widely expected to have hit consumption, as well as jobs in the informal sector, driving down economic growth.
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