Demonetisation fallout: ADB reduces India GDP growth forecast to 7%1 min read . Updated: 14 Dec 2016, 03:03 AM IST
The lower GDP growth pojection is due to weak investments, a slowdown in agriculture sector, and cash crunch due to demonetisation, according to ADB
New Delhi: The Asian Development Bank (ADB) on Tuesday became the first multilateral agency to reduce India’s growth forecast for the current fiscal 2016-17 to 7% from 7.4% estimated earlier in the backdrop of government’s decision to demonetise Rs500 and Rs1,000 currency notes.
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