BUSINESS

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

It was 7.6% in 2015-16.

06/01/2017 6:17 PM IST | Updated 06/01/2017 7:25 PM IST
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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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