Placeholder canvas

GDP grows at 7% in Q3; full year growth retained at 7.1%

Date:

New Delhi: India’s economy expanded by 7% in the third quarter of this financial year, belying fears that note ban would have severely impacted economic activity.

The Central Statistics Office (CSO) has retained the growth projection for the current fiscal at 7.1%, as projected in the first advance estimate in January.

Meanwhile, the CSO has also marginally revised upwards the GDP estimates for the first and the second quarters to 7.2% and 7.4%.

ALSO READ: Cash deposits & cheque clearances hit as Public Banks shut due to day long strike

It was feared that demonetisation effected in the middle of the third quarter (November 9, 2016) would have adverse bearing on various segments of the economy.

The Reserve Bank of India and other agencies like IMF and OECD had lowered GDP projections arguing that the note ban would have short-term impact on the Indian economy

LEAVE A REPLY

Please enter your comment!
Please enter your name here

Share post:

Subscribe

Popular

More like this
Related

Gangster-Turned-Politician Mukhtar Ansari Dies Of Cardiac Arrest

Banda: Gangster turned politician Mukhtar Ansari passed away at...

IPL 2024: Rajasthan Royals Defeat Delhi Capitals By 12 Runs

Jaipur: Rajasthan Royals clinched a 12-run win over Delhi...

FTX Founder Sam Bankman-Fried Sentenced To 25 Years In Prison For Fraud

New Delhi: Sam Bankman-Fried, the renowned founder of cryptocurrency...