Note ban pulls down Q3 GDP growth in India to 7 pc, full year growth retained at 7.1 pc
February 28, 2017 22:10 ISTIndia's economy expanded by 7 per cent in the third quarter of this financial year.
India's economy expanded by 7 per cent in the third quarter of this financial year.
IMF has projected India's growth to slow to 6.6 per cent in 2016-17 fiscal due to the strains that have emerged in the economy as a result of temporary disruptions caused by demonetisation.
India is expected to clock a GDP growth of 7.1 per cent in 2017-18 as the country gets sufficiently remonetised and the schemes in the Budget play a supportive role, says an HSBC report.
Describing South Asia as a global growth hotspot, the World Bank has said India's GDP growth will remain strong at 7.6 percent in 2016 and 7.7 percent in 2017.
In what could come as adverse news for the Narendra Modi-led government, the Indian economy lost some momentum in the first quarter of 2015-16 with the gross domestic product or GDP expanding 7.1 per cent
Important stories of the day
India’s Gross Domestic Product (GDP) grew by 7.9 per cent in the quarter ending March 2016, up from the 7.2 per cent clocked during the quarter ending December 2015.
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