Demonetisation impact: GDP growth may fall to three-year lows
Sunil Kumar Sinha, Principal Economist and Director Public Finance of India Ratings said, “Disruption has been caused at various level of economy due to de-legalisation of banknotes of Rs 500 and Rs 1000 denominations. Ind-Ra analysis shows that the economic cost of the de-legalisation will be Rs1.5 lakh crore for FY17.”
India Ratings (Ind-Ra) has also revised its gross domestic product (GDP) growth forecast for FY17 to 6.8%, 100bp lower than its earlier projection of 7.8%. Photo: IANS