GDP expands at 7.1% in FY17, but slows to 6.1% in Q4 as demonetization bites

Free Stock Cash Tips Call 9644405056- OR you can click here for more >>

http://www.ripplesadvisory.com/free-trial.php

The Indian economy grew at 7.1 percent in 2016-17, the government said in new estimates on Wednesday, identical to the expansion projected in February, but slower than the previous year’s 8 percent growth.

A 6.1 percent growth in January-March quarter, however, indicated that the economy is still smarting under the demonetization shock that the sudden flush out of high-value notes and restricted cash access had caused on household spending and corporate investment.

India also lost its status of fastest growing major economy, slipping sharply behind China’s 6.9 percent growth in January-March 2017 quarter.