Demonetisation of the notes of denominations of Rs 500 and Rs 1,000 is considered a reason for the dip in the GDP growth by multiple quarters.

The new WPI and IIP data, could lead to revisions in GDP and GVA levels and growth rates from FY2013 onward, at constant prices, said media reports quoting Aditi Nayar, Icra’s principal economist. She also said that the growth rate for fiscal 2017 will differ from the estimates released by the CSO in February this year.

Additional data regarding the impact of demonetisation on the informal sectors may lead to a drop in the growth of H2 FY17, compared with the revised levels of H1 FY17. (KD)

Fibre2Fashion News Desk – India