2.5 INDIA
2017-11-26
India’s gross domestic product (GDP) growth in 2016-2017 (April 2016-March 2017) slowed to 7.1% from 7.3% in the previous year, against a forecast of 7.7%. This sudden drop, after more than two years of steady rise, is mainly attributed to demonetization of high value currency notes announced in November 2016, which impacted cash transactions that accounted for almost 80% of financial trans-actions in the country.
