Government Estimates GDP Growth Of 7.1 Per Cent In 2016-17

The government has estimated economic growth to slow to 7.1 percent in 2016-17. This figure has been arrived at without taking into consideration the impact of demonetisation. The actual expansion in the first six months of 2016-17 stood at 7.1 per cent.

The previous year saw India registering an economic growth of 7.6 percent.

On the back of the government’s scrapping of old high-value denomination banknotes, Reuters reports, most private economists have projected India's growth to record 6.3-6.4 per cent for the 2016-17 fiscal year, ending this March.