Insta
DeMo Didn’t Hurt? Indian Economy Registers A Healthy 7 Per Cent Growth Rate In Q3
Swarajya Staff
Feb 28, 2017, 06:54 PM | Updated 06:53 PM IST
Save & read from anywhere!
Bookmark stories for easy access on any device or the Swarajya app.
India’s gross domestic product (GDP) growth rate registered a healthy 7 per cent during the demonetisation period from October to December last year.
GDP growth rate during 2016-17 is estimated at 7.1 per cent, reported ANI, which is a 0.8 per cent fall from the 7.9 per cent figure from 2015-16.
#FLASH The growth in GDP during 2016-17 is estimated at 7.1% as compared to the growth rate of 7.9 % in 2015-16.
— ANI (@ANI_news) February 28, 2017
Economic Affairs Secretary Shaktikanta Das said the Indian economy held its own despite the negative projections.
People projected negative impact of #DeMonetisation on GDP, but its not so we maintained growth at 7%: Eco Affairs Secy Shaktikanta Das pic.twitter.com/b2FuwhGkhx
— ANI (@ANI_news) February 28, 2017
Several predictions emerged in the wake of demonetisation. While Goldman Sachs predicted GDP growth to fall by 1.1 per cent, Care Ratings estimated a drop of 0.3-0.5 per cent. The Centre for Monitoring Indian Economy even had a precise figure for economic loss.
Read Also: Pick A Number: Why All GDP Estimates Post-Demonetisation May Go Wrong
Save & read from anywhere!
Bookmark stories for easy access on any device or the Swarajya app.
Introducing ElectionsHQ + 50 Ground Reports Project
The 2024 elections might seem easy to guess, but there are some important questions that shouldn't be missed.
Do freebies still sway voters? Do people prioritise infrastructure when voting? How will Punjab vote?
The answers to these questions provide great insights into where we, as a country, are headed in the years to come.
Swarajya is starting a project with an aim to do 50 solid ground stories and a smart commentary service on WhatsApp, a one-of-a-kind. We'd love your support during this election season.
Click below to contribute.