World Economy

India Growth Revised Down

India Growth Revised DownIndia Growth Revised Down

The advance estimate of 7.1% GDP released by India’s Central Statistical Organization (CSO), will have major errors as it does not include the data for the months after demonetization, domestic rating agency Icra has said.The agency on Friday pegged the expected growth for 2016-17 lower at 6.8%, India’s Financial Express reported on January 7.The advance estimates released by [I]CSO of growth in FY2017 are unsurprising, as they draw heavily from the available data for the first half of this fiscal, it said.“The growth in deposits is an outlier, hence November data was not used for the financials,” India’s Chief Statistician T. C. A. Anant had said, implying that demonetisation is not a normal factor in the calculation of annual national income.

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