7.1% GDP estimate erroneous, says Icra
"Given the impact of demonetisation on actual activity from mid-November 2016 onward, projecting GDP growth for the full year by extrapolating the trends up to October 2016 for several sectors, may introduce more errors than in earlier years. This would be particularly apt for cash intensive sectors such as construction," Icra said in a statement.
Advance estimate of 7.1% GDP released by Central Statistical Organisation (CSO), will have major errors as it does not include the data for the months after demonetisation. Photo: IANS