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GDP to grow slower at 7.1 in FY17; note ban not factored in

News and Press Release - Dated:- 7-1-2017 - New Delhi, Jan 6 (PTI) Economy will grow at a slower pace of 7.1 per cent this fiscal, as against 7.6 per cent last year, mainly due poor showing by manufacturing, mining and construction, government data showed today without factoring in the demonetisation impact. Releasing the data compiled by the Central Statistics Office (CSO), Chief Statistician T C A Anant said, It is difficult to talk about the impact of demonetisation at this point of time ... .....

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lity because of major policy change. He explained that the CSO has factored in all latest data available so far while arriving at a conclusion the economic growth will be 7.1 per cent this fiscal. He also said that CSO does not make adhoc estimates and current figures are based on indicators available as of now. Elaborating the reasons for slowdown, he also said that slowdown in economy is by and large on account of (bad performance of) index of industrial production. Commenting on the data, Eco .....

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