Post-demonetisation, GDP figures dip to 6.1 pc

Post-demonetisation, the GDP data has showed growth of India’s economy declined to 6.1 per cent in the January-March quarter. With a gross domestic product growth of 6.1 per cent in the fourth quarter, India has lost the tag of the world’s fastest growing major economy to China . For the full 2016-17 fiscal, GDP growth stood at a three-year low of 7.1 per cent. Ficci President Pankaj Patel said the fourth quarter numbers point towards moderation which can be attributed to the ban of high denomination currency notes last year. However, he added the process of remonetisation is almost complete and growth impulse is gradually gaining momentum.

 

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    Renjith Thomas
    Jun 6, 2017 at 7:06 pm
    I am afraid this presentation is wrong, as VAT had a similar structure. That's why it was called Value Added Tax. It was being taxed only on the value added by the merchant involved. I could be wrong, please check this once again.
    Reply