Was the demonetisation scare an old wives’ tale?3 min read . Updated: 01 Mar 2017, 08:10 AM IST
The impact of demonetisation has been negligible on the Indian Economy, going by the India GDP growth rate numbers released by the CSO on Tuesday
Totally belying the fears of almost everyone, the Central Statistics Office’s (CSO’s) estimate of real gross domestic product for the December quarter came in at a robust 7%, while growth in gross value added (GVA) was 6.6%. Going by these numbers, the impact of demonetisation, which had resulted in the withdrawal of a huge portion of the currency in circulation, was negligible. GVA in the September quarter, before demonetisation, was a smidgeon higher, at 6.7%.
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