Indian Economy registered a lowest growth in three years during the financial year 2016-17 (April 1st 2016 - March 31st 2017). This could be because of the demonetisation which led to the scrapping of 86% of the existing currency.
GDP Growth from January-March 2017 has fallen to 6.1 Percent. It's because of this reason India lost the Fastest Growing Economy tag. China posted a GDP Growth of 6.9 percent during the same period this year.
India's GDP Growth: 7.5 Percent in 2014-15 & 8 Percent in 2015-16
GDP Trend in 2016-17: 7.9 Percent in 1st Quarter, 7.5 Percent in 2nd Quarter, 7 Percent in 3rd Quarter & 6.1 Percent in 4th Quarter.
This isn't a good sign for NDA Government which completed 3 years rule recently. Will Goods & Services Tax boost the GDP to bring back India to No.1 Position?
GDP Growth from January-March 2017 has fallen to 6.1 Percent. It's because of this reason India lost the Fastest Growing Economy tag. China posted a GDP Growth of 6.9 percent during the same period this year.
India's GDP Growth: 7.5 Percent in 2014-15 & 8 Percent in 2015-16
GDP Trend in 2016-17: 7.9 Percent in 1st Quarter, 7.5 Percent in 2nd Quarter, 7 Percent in 3rd Quarter & 6.1 Percent in 4th Quarter.
This isn't a good sign for NDA Government which completed 3 years rule recently. Will Goods & Services Tax boost the GDP to bring back India to No.1 Position?