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Showing posts from June, 2017

India GDP Growth Fall to 6.1 %

India is no longer the world's fastest growing large economy. Recent data released by the government indicates that while full-year growth for 2016-17 came in at a respectable 7.1 percent, fourth-quarter GDP grew at 6.1 per cent, lower than China's in the same quarter. For the Indian government that relied on the tag of 'fastest growing economy' to attract investments in the country, it will now need a new qualifier while pitching India to potential investors. While reports are quick to blame the Narendra Modi Government for its demonetisation that withdrew 86 per cent of the country's currency from circulation, former PM Manmohan Singh had stated in the Parliament at the time that the move might dent growth by two percentage points or more. However, India's economy was slowing down much before PM Modi implemented the currency demonetisation last November, reports The Economic Times. Growth in gross value added output as measured from the economy's