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Resource centre on India's rural distress
 
 

Five reasons why economists doubt India's October-December GDP growth of 7% -Raj Kumar Ray

-Hindustan Times

New Delhi: India’s economic growth of 7% during October-December has sparked a debate on how output grew so fast at a time when the country was facing its biggest-ever cash crunch after Prime Minister Narendra Modi announced on November 8 the demonetisation exercise, which weeded out 86% of the currency notes in circulation.

Economists and experts cite at least five reasons why the government data of a robust economic growth looks doubtful in the backdrop of Modi’s decision to scrap old Rs 500 and Rs 1,000 notes held by 1.2 billion people.

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