India’s economic growth slowed to 7.1 per cent in 2016-17, the year in which 87 per cent of the currency was demonetised, despite a very good showing by the agricultural sector.
The Gross Domestic Product (GDP) was 6.1 per in the January-March quarter, the immediate three months after the demonetisation was affected on November 9, 2016.
The GDP, as per the new series with base year of 2011-12, had expanded by 8 per cent in 2015-16. It was 7.9 per cent as based on the old series.The data released by the Central Statistics Office (CSO) revealed that the Gross Value Added (GVA) slipped sharply to 6.6 per cent in the last financial year ended March 31, from 7.9 per cent growth in 2015-16.
via gdp: Note ban shows up in India’s growth, economy grows 6.1% in March quarter – The Economic Times
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