RBI slashes GVA growth for FY17 to 7.1%
RBI said, “Outlook for GVA growth has turned uncertain after the unexpected loss of momentum by 50 basis points in Q2 and the effects of the withdrawal of SBNs (specified bank notes) which are still playing out.”
While announcing the fifth bi-monthly monetary policy, the Reserve Bank of India revised the gross value added (GVA) to 7.1% from earlier 7.6%. Photo: Reuters