As you all know last year old currency demonetised to take out black money and to take India Economic Growth at a new place.

But India economic growth slowed to 7.1 per cent in 2016-17, the year within which 87 per cent of the currency was demonetised, despite a very good showing by the agricultural sector.

According to the data released on Wednesday by the Central Statistics Office (CSO) Gross domestic product (GDP) growth slowed to 6.1% in the financial 4th quarter from 7% in the third.

The demonetisation not only effected GDP growth but it have impacted the GVA in the third as well as 4th quarter of 2016-17 that slipped to 6.7 per cent and 5.6 per cent respectively, from 7.3 per cent and 8.7 per cent.

Almost all sectors, with the exception of agriculture, showed a deceleration in the aftermath of demonetisation.

While the manufacturing sector output in the fourth quarter slowed to 5.3 per cent versus 12.7 per cent in the same period of last year, the construction sector slipped into the negative territory.

Thanks to good monsoon, the agricultural sector posted a huge jump in growth as it expanded by 4.9 per cent during 2016-17 compared to dismal growth of 0.7 per cent in the previous year.

In the fourth quarter itself, the agriculture sector GVA rose by 5.2 per cent as compared to 1.5 per cent in the same period of 2015-16.

The data further said the per capital income during 2016- 17 is estimated to have attained a level of Rs 1,03,219 as compared to the estimates for the year 2015-16 of Rs 94,130 showing a rise of 9.7 per cent.

India Economic Growth effect everybody. So if you think its a useful information then share it by hitting the share buttons below.

The post Demonetisation Pulls Down India Economic Growth – Lowest In 2 Years appeared first on MindGoCrazy.