Demonetisation to drag down India’s GDP by utilizing 1%: IMF

Demonetisation to drag down India’s GDP by utilizing 1%: IMF

The put up-November eight, 2016 cash shortages and fee disruptions have undermined consumption and trade course of, the IMF says.

India’s enhance is projected to gradual to six.6 % in 2016-17 fiscal due to the strains which have emerged within the financial system on account of “non permanent disruptions” due to demonetization, the IMF mentioned on Wednesday. read more