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Resource centre on India's rural distress
 
 

Note ban, GST have adversely affected India's GDP growth: Manmohan Singh

-IANS

The former prime minister said both demonetisation and GST have impacted the informal sector, which accounts for 90% of employment.

New Delhi:
Both demonetisation and GST have affected India’s gross domestic product (GDP) growth adversely, former Prime Minister Manmohan Singh said on Monday.

“Both demonetisation and GST have had some impact on GDP,” Manmohan Singh, who has earlier said the Indian economy has been running on only “one engine” of public spending, told CNBC-TV18 channel.

“Both would affect the informal sector, the small scale sector that are responsible for 40% of GDP... 90% of employment is in the informal sector.

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