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Even Without Factoring In Demonetisation Impact, Govt Says GDP Growth In 2016-17 Will Be 7.1%

It was 7.6% in 2015-16.
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NEW DELHI -- The Indian economy is expected to grow at 7.1% this fiscal, according to an official advance estimate for the year released on Friday, compared with actual expansion of 7.1% in the first six months of 2016-17.

According to the estimate of national income for 2016-17 released by the Central Statistics Office (CSO), the country' gross domestic product will grow at 7.1% in 2016-17 compared to 7.6% in 2015-16.

The anticipated growth of real GVA (gross value added, which excludes taxes and subsidies) in 2016-17 is 7% against 7.2% in 2015-16, said an official statement.

Going by the parameters used for the advance estimate, the impact of demonetisation has not been considered in the forecast.

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This article exists as part of the online archive for HuffPost India, which closed in 2020. Some features are no longer enabled. If you have questions or concerns about this article, please contact indiasupport@huffpost.com.