Deprecated (16384): The ArrayAccess methods will be removed in 4.0.0.Use getParam(), getData() and getQuery() instead. - /home/brlfuser/public_html/src/Controller/ArtileDetailController.php, line: 73
 You can disable deprecation warnings by setting `Error.errorLevel` to `E_ALL & ~E_USER_DEPRECATED` in your config/app.php. [CORE/src/Core/functions.php, line 311]
Code Context


        trigger_error($message, E_USER_DEPRECATED);

    }
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 You can disable deprecation warnings by setting `Error.errorLevel` to `E_ALL & ~E_USER_DEPRECATED` in your config/app.php.'
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deprecationWarning - CORE/src/Core/functions.php, line 311
Cake\Http\ServerRequest::offsetGet() - CORE/src/Http/ServerRequest.php, line 2421
App\Controller\ArtileDetailController::printArticle() - APP/Controller/ArtileDetailController.php, line 73
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Cake\Http\ActionDispatcher::_invoke() - CORE/src/Http/ActionDispatcher.php, line 120
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Cake\Http\Runner::__invoke() - CORE/src/Http/Runner.php, line 65
Cake\Error\Middleware\ErrorHandlerMiddleware::__invoke() - CORE/src/Error/Middleware/ErrorHandlerMiddleware.php, line 96
Cake\Http\Runner::__invoke() - CORE/src/Http/Runner.php, line 65
Cake\Http\Runner::run() - CORE/src/Http/Runner.php, line 51
Cake\Http\Server::run() - CORE/src/Http/Server.php, line 98

Deprecated (16384): The ArrayAccess methods will be removed in 4.0.0.Use getParam(), getData() and getQuery() instead. - /home/brlfuser/public_html/src/Controller/ArtileDetailController.php, line: 74
 You can disable deprecation warnings by setting `Error.errorLevel` to `E_ALL & ~E_USER_DEPRECATED` in your config/app.php. [CORE/src/Core/functions.php, line 311]
Code Context


        trigger_error($message, E_USER_DEPRECATED);

    }
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 You can disable deprecation warnings by setting `Error.errorLevel` to `E_ALL & ~E_USER_DEPRECATED` in your config/app.php.'
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deprecationWarning - CORE/src/Core/functions.php, line 311
Cake\Http\ServerRequest::offsetGet() - CORE/src/Http/ServerRequest.php, line 2421
App\Controller\ArtileDetailController::printArticle() - APP/Controller/ArtileDetailController.php, line 74
Cake\Controller\Controller::invokeAction() - CORE/src/Controller/Controller.php, line 610
Cake\Http\ActionDispatcher::_invoke() - CORE/src/Http/ActionDispatcher.php, line 120
Cake\Http\ActionDispatcher::dispatch() - CORE/src/Http/ActionDispatcher.php, line 94
Cake\Http\BaseApplication::__invoke() - CORE/src/Http/BaseApplication.php, line 235
Cake\Http\Runner::__invoke() - CORE/src/Http/Runner.php, line 65
Cake\Routing\Middleware\RoutingMiddleware::__invoke() - CORE/src/Routing/Middleware/RoutingMiddleware.php, line 162
Cake\Http\Runner::__invoke() - CORE/src/Http/Runner.php, line 65
Cake\Routing\Middleware\AssetMiddleware::__invoke() - CORE/src/Routing/Middleware/AssetMiddleware.php, line 88
Cake\Http\Runner::__invoke() - CORE/src/Http/Runner.php, line 65
Cake\Error\Middleware\ErrorHandlerMiddleware::__invoke() - CORE/src/Error/Middleware/ErrorHandlerMiddleware.php, line 96
Cake\Http\Runner::__invoke() - CORE/src/Http/Runner.php, line 65
Cake\Http\Runner::run() - CORE/src/Http/Runner.php, line 51
Cake\Http\Server::run() - CORE/src/Http/Server.php, line 98

Warning (512): Unable to emit headers. Headers sent in file=/home/brlfuser/public_html/vendor/cakephp/cakephp/src/Error/Debugger.php line=853 [CORE/src/Http/ResponseEmitter.php, line 48]
Code Context
            if (Configure::read('debug')) {

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    <link rel="canonical" href="https://im4change.in/<pre class="cake-error"><a href="javascript:void(0);" onclick="document.getElementById('cakeErr67f26edb2fd89-trace').style.display = (document.getElementById('cakeErr67f26edb2fd89-trace').style.display == 'none' ? '' : 'none');"><b>Notice</b> (8)</a>: Undefined variable: urlPrefix [<b>APP/Template/Layout/printlayout.ctp</b>, line <b>8</b>]<div id="cakeErr67f26edb2fd89-trace" class="cake-stack-trace" style="display: none;"><a href="javascript:void(0);" onclick="document.getElementById('cakeErr67f26edb2fd89-code').style.display = (document.getElementById('cakeErr67f26edb2fd89-code').style.display == 'none' ? '' : 'none')">Code</a> <a href="javascript:void(0);" onclick="document.getElementById('cakeErr67f26edb2fd89-context').style.display = (document.getElementById('cakeErr67f26edb2fd89-context').style.display == 'none' ? '' : 'none')">Context</a><pre id="cakeErr67f26edb2fd89-code" class="cake-code-dump" style="display: none;"><code><span style="color: #000000"><span style="color: #0000BB"></span><span style="color: #007700">&lt;</span><span style="color: #0000BB">head</span><span style="color: #007700">&gt;
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</span></span></code></pre><pre id="cakeErr67f26edb2fd89-context" class="cake-context" style="display: none;">$viewFile = &#039;/home/brlfuser/public_html/src/Template/Layout/printlayout.ctp&#039;
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-Livemint.com&lt;br /&gt;
&lt;br /&gt;
&lt;em&gt;Very low GDP growth in the fourth quarter indicates that the slowdown is likely to persist in the current quarter as well&lt;br /&gt;
&lt;/em&gt;&lt;br /&gt;
Finally, the impact of demonetisation is visible in the gross domestic product (GDP) numbers. Gross value-added (GVA) growth at constant prices fell to a mere 5.6% in the fourth quarter of fiscal year 2017 (FY17), clearly showing the scars of demonetisation on the economy.&lt;br /&gt;
&lt;br /&gt;
That&amp;rsquo;s not all. The headline growth number conceals more than it reveals. If we leave out the &amp;ldquo;public administration, defence and other services&amp;rdquo; component of GVA, comprising mainly government expenditure, then growth slumps to an even lower 4.1% in the fourth quarter. Clearly, the impact of the pay hike to government personnel has bailed out the economy. And if we leave out &amp;ldquo;public administration, defence and other services&amp;rdquo; as well as agriculture, on the grounds that agricultural growth is chiefly due to the rain gods&amp;rsquo; generosity, then growth in the rest of the economy at constant prices plummets to a piffling 3.8% for the fourth quarter.&lt;br /&gt;
&lt;/div&gt;
&lt;div align=&quot;justify&quot;&gt;
&amp;nbsp;
&lt;/div&gt;
&lt;div align=&quot;justify&quot;&gt;
&lt;img src=&quot;tinymce/uploaded/GDP growth.jpg&quot; alt=&quot;GDP growth&quot; width=&quot;628&quot; height=&quot;462&quot; /&gt; &lt;br /&gt;
&lt;/div&gt;
&lt;div align=&quot;justify&quot;&gt;
&amp;nbsp;
&lt;/div&gt;
&lt;div align=&quot;justify&quot;&gt;
Indeed, if we do a similar exercise for the fourth quarter of the previous year, or FY16, leaving out government spending and agriculture, we find that GVA growth at constant prices in the rest of the economy at that time was 10.7%. The full impact of demonetisation may therefore be gauged in the fall of growth in this part of the economy from 10.7% to 3.8%.&lt;br /&gt;
&lt;br /&gt;
Chart 1 shows which sectors contributed how much to GVA growth during the fourth quarter of FY17. Notice the contribution of &amp;ldquo;public administration, defence and other services&amp;rdquo; was more than a third. The data on government final consumption expenditure (GFCE) from the expenditure-side numbers also shows that GFCE increased by as much as 31.9% in the fourth quarter of FY17, compared to the year-ago quarter.&lt;br /&gt;
&lt;br /&gt;
The numbers show that GVA in the construction sector contracted from a year ago in the fourth quarter of FY17. This is very significant, as the construction sector is one of the biggest sources of jobs for the masses.&lt;br /&gt;
&lt;br /&gt;
The terrible state of the banks is reflected in the poor contribution of the &amp;ldquo;financial, real estate and professional services&amp;rdquo; component of GVA.&lt;br /&gt;
&lt;br /&gt;
Please &lt;a href=&quot;http://www.livemint.com/Money/hGjrhj5FAIxBsNkmKgcFtM/The-Indian-economy-finally-bares-its-demonetisation-scars.html&quot;&gt;click here&lt;/a&gt; to read more. &lt;br /&gt;
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Very low GDP growth in the fourth quarter indicates that the slowdown is likely to persist in the current quarter as well

Finally, the impact of demonetisation is visible in the gross domestic product (GDP) numbers. Gross value-added (GVA) growth at...&#039;,
	&#039;disp&#039; =&gt; &#039;&lt;div align=&quot;justify&quot;&gt;-Livemint.com&lt;br /&gt;&lt;br /&gt;&lt;em&gt;Very low GDP growth in the fourth quarter indicates that the slowdown is likely to persist in the current quarter as well&lt;br /&gt;&lt;/em&gt;&lt;br /&gt;Finally, the impact of demonetisation is visible in the gross domestic product (GDP) numbers. Gross value-added (GVA) growth at constant prices fell to a mere 5.6% in the fourth quarter of fiscal year 2017 (FY17), clearly showing the scars of demonetisation on the economy.&lt;br /&gt;&lt;br /&gt;That&amp;rsquo;s not all. The headline growth number conceals more than it reveals. If we leave out the &amp;ldquo;public administration, defence and other services&amp;rdquo; component of GVA, comprising mainly government expenditure, then growth slumps to an even lower 4.1% in the fourth quarter. Clearly, the impact of the pay hike to government personnel has bailed out the economy. And if we leave out &amp;ldquo;public administration, defence and other services&amp;rdquo; as well as agriculture, on the grounds that agricultural growth is chiefly due to the rain gods&amp;rsquo; generosity, then growth in the rest of the economy at constant prices plummets to a piffling 3.8% for the fourth quarter.&lt;br /&gt;&lt;/div&gt;&lt;div align=&quot;justify&quot;&gt;&amp;nbsp;&lt;/div&gt;&lt;div align=&quot;justify&quot;&gt;&lt;img src=&quot;https://im4change.in/siteadmin/tinymce/uploaded/GDP growth.jpg&quot; alt=&quot;GDP growth&quot; width=&quot;628&quot; height=&quot;462&quot; /&gt; &lt;br /&gt;&lt;/div&gt;&lt;div align=&quot;justify&quot;&gt;&amp;nbsp;&lt;/div&gt;&lt;div align=&quot;justify&quot;&gt;Indeed, if we do a similar exercise for the fourth quarter of the previous year, or FY16, leaving out government spending and agriculture, we find that GVA growth at constant prices in the rest of the economy at that time was 10.7%. The full impact of demonetisation may therefore be gauged in the fall of growth in this part of the economy from 10.7% to 3.8%.&lt;br /&gt;&lt;br /&gt;Chart 1 shows which sectors contributed how much to GVA growth during the fourth quarter of FY17. Notice the contribution of &amp;ldquo;public administration, defence and other services&amp;rdquo; was more than a third. The data on government final consumption expenditure (GFCE) from the expenditure-side numbers also shows that GFCE increased by as much as 31.9% in the fourth quarter of FY17, compared to the year-ago quarter.&lt;br /&gt;&lt;br /&gt;The numbers show that GVA in the construction sector contracted from a year ago in the fourth quarter of FY17. This is very significant, as the construction sector is one of the biggest sources of jobs for the masses.&lt;br /&gt;&lt;br /&gt;The terrible state of the banks is reflected in the poor contribution of the &amp;ldquo;financial, real estate and professional services&amp;rdquo; component of GVA.&lt;br /&gt;&lt;br /&gt;Please &lt;a href=&quot;http://www.livemint.com/Money/hGjrhj5FAIxBsNkmKgcFtM/The-Indian-economy-finally-bares-its-demonetisation-scars.html&quot; title=&quot;http://www.livemint.com/Money/hGjrhj5FAIxBsNkmKgcFtM/The-Indian-economy-finally-bares-its-demonetisation-scars.html&quot;&gt;click here&lt;/a&gt; to read more. &lt;br /&gt;&lt;/div&gt;&#039;,
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&lt;em&gt;Very low GDP growth in the fourth quarter indicates that the slowdown is likely to persist in the current quarter as well&lt;br /&gt;
&lt;/em&gt;&lt;br /&gt;
Finally, the impact of demonetisation is visible in the gross domestic product (GDP) numbers. Gross value-added (GVA) growth at constant prices fell to a mere 5.6% in the fourth quarter of fiscal year 2017 (FY17), clearly showing the scars of demonetisation on the economy.&lt;br /&gt;
&lt;br /&gt;
That&amp;rsquo;s not all. The headline growth number conceals more than it reveals. If we leave out the &amp;ldquo;public administration, defence and other services&amp;rdquo; component of GVA, comprising mainly government expenditure, then growth slumps to an even lower 4.1% in the fourth quarter. Clearly, the impact of the pay hike to government personnel has bailed out the economy. And if we leave out &amp;ldquo;public administration, defence and other services&amp;rdquo; as well as agriculture, on the grounds that agricultural growth is chiefly due to the rain gods&amp;rsquo; generosity, then growth in the rest of the economy at constant prices plummets to a piffling 3.8% for the fourth quarter.&lt;br /&gt;
&lt;/div&gt;
&lt;div align=&quot;justify&quot;&gt;
&amp;nbsp;
&lt;/div&gt;
&lt;div align=&quot;justify&quot;&gt;
&lt;img src=&quot;tinymce/uploaded/GDP growth.jpg&quot; alt=&quot;GDP growth&quot; width=&quot;628&quot; height=&quot;462&quot; /&gt; &lt;br /&gt;
&lt;/div&gt;
&lt;div align=&quot;justify&quot;&gt;
&amp;nbsp;
&lt;/div&gt;
&lt;div align=&quot;justify&quot;&gt;
Indeed, if we do a similar exercise for the fourth quarter of the previous year, or FY16, leaving out government spending and agriculture, we find that GVA growth at constant prices in the rest of the economy at that time was 10.7%. The full impact of demonetisation may therefore be gauged in the fall of growth in this part of the economy from 10.7% to 3.8%.&lt;br /&gt;
&lt;br /&gt;
Chart 1 shows which sectors contributed how much to GVA growth during the fourth quarter of FY17. Notice the contribution of &amp;ldquo;public administration, defence and other services&amp;rdquo; was more than a third. The data on government final consumption expenditure (GFCE) from the expenditure-side numbers also shows that GFCE increased by as much as 31.9% in the fourth quarter of FY17, compared to the year-ago quarter.&lt;br /&gt;
&lt;br /&gt;
The numbers show that GVA in the construction sector contracted from a year ago in the fourth quarter of FY17. This is very significant, as the construction sector is one of the biggest sources of jobs for the masses.&lt;br /&gt;
&lt;br /&gt;
The terrible state of the banks is reflected in the poor contribution of the &amp;ldquo;financial, real estate and professional services&amp;rdquo; component of GVA.&lt;br /&gt;
&lt;br /&gt;
Please &lt;a href=&quot;http://www.livemint.com/Money/hGjrhj5FAIxBsNkmKgcFtM/The-Indian-economy-finally-bares-its-demonetisation-scars.html&quot;&gt;click here&lt;/a&gt; to read more. &lt;br /&gt;
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-Livemint.com

Very low GDP growth in the fourth quarter indicates that the slowdown is likely to persist in the current quarter as well

Finally, the impact of demonetisation is visible in the gross domestic product (GDP) numbers. Gross value-added (GVA) growth at...&#039;
$disp = &#039;&lt;div align=&quot;justify&quot;&gt;-Livemint.com&lt;br /&gt;&lt;br /&gt;&lt;em&gt;Very low GDP growth in the fourth quarter indicates that the slowdown is likely to persist in the current quarter as well&lt;br /&gt;&lt;/em&gt;&lt;br /&gt;Finally, the impact of demonetisation is visible in the gross domestic product (GDP) numbers. Gross value-added (GVA) growth at constant prices fell to a mere 5.6% in the fourth quarter of fiscal year 2017 (FY17), clearly showing the scars of demonetisation on the economy.&lt;br /&gt;&lt;br /&gt;That&amp;rsquo;s not all. The headline growth number conceals more than it reveals. If we leave out the &amp;ldquo;public administration, defence and other services&amp;rdquo; component of GVA, comprising mainly government expenditure, then growth slumps to an even lower 4.1% in the fourth quarter. Clearly, the impact of the pay hike to government personnel has bailed out the economy. And if we leave out &amp;ldquo;public administration, defence and other services&amp;rdquo; as well as agriculture, on the grounds that agricultural growth is chiefly due to the rain gods&amp;rsquo; generosity, then growth in the rest of the economy at constant prices plummets to a piffling 3.8% for the fourth quarter.&lt;br /&gt;&lt;/div&gt;&lt;div align=&quot;justify&quot;&gt;&amp;nbsp;&lt;/div&gt;&lt;div align=&quot;justify&quot;&gt;&lt;img src=&quot;https://im4change.in/siteadmin/tinymce/uploaded/GDP growth.jpg&quot; alt=&quot;GDP growth&quot; width=&quot;628&quot; height=&quot;462&quot; /&gt; &lt;br /&gt;&lt;/div&gt;&lt;div align=&quot;justify&quot;&gt;&amp;nbsp;&lt;/div&gt;&lt;div align=&quot;justify&quot;&gt;Indeed, if we do a similar exercise for the fourth quarter of the previous year, or FY16, leaving out government spending and agriculture, we find that GVA growth at constant prices in the rest of the economy at that time was 10.7%. The full impact of demonetisation may therefore be gauged in the fall of growth in this part of the economy from 10.7% to 3.8%.&lt;br /&gt;&lt;br /&gt;Chart 1 shows which sectors contributed how much to GVA growth during the fourth quarter of FY17. Notice the contribution of &amp;ldquo;public administration, defence and other services&amp;rdquo; was more than a third. The data on government final consumption expenditure (GFCE) from the expenditure-side numbers also shows that GFCE increased by as much as 31.9% in the fourth quarter of FY17, compared to the year-ago quarter.&lt;br /&gt;&lt;br /&gt;The numbers show that GVA in the construction sector contracted from a year ago in the fourth quarter of FY17. This is very significant, as the construction sector is one of the biggest sources of jobs for the masses.&lt;br /&gt;&lt;br /&gt;The terrible state of the banks is reflected in the poor contribution of the &amp;ldquo;financial, real estate and professional services&amp;rdquo; component of GVA.&lt;br /&gt;&lt;br /&gt;Please &lt;a href=&quot;http://www.livemint.com/Money/hGjrhj5FAIxBsNkmKgcFtM/The-Indian-economy-finally-bares-its-demonetisation-scars.html&quot; title=&quot;http://www.livemint.com/Money/hGjrhj5FAIxBsNkmKgcFtM/The-Indian-economy-finally-bares-its-demonetisation-scars.html&quot;&gt;click here&lt;/a&gt; to read more. &lt;br /&gt;&lt;/div&gt;&#039;
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Very low GDP growth in the fourth quarter indicates that the slowdown is likely to persist in the current quarter as well

Finally, the impact of demonetisation is visible in the gross domestic product (GDP) numbers. Gross value-added (GVA) growth at..."/>
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                <strong>The Indian economy finally bares its demonetisation scars -Manas Chakravarty</strong></h1>
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                <div align="justify">-Livemint.com<br /><br /><em>Very low GDP growth in the fourth quarter indicates that the slowdown is likely to persist in the current quarter as well<br /></em><br />Finally, the impact of demonetisation is visible in the gross domestic product (GDP) numbers. Gross value-added (GVA) growth at constant prices fell to a mere 5.6% in the fourth quarter of fiscal year 2017 (FY17), clearly showing the scars of demonetisation on the economy.<br /><br />That&rsquo;s not all. The headline growth number conceals more than it reveals. If we leave out the &ldquo;public administration, defence and other services&rdquo; component of GVA, comprising mainly government expenditure, then growth slumps to an even lower 4.1% in the fourth quarter. Clearly, the impact of the pay hike to government personnel has bailed out the economy. And if we leave out &ldquo;public administration, defence and other services&rdquo; as well as agriculture, on the grounds that agricultural growth is chiefly due to the rain gods&rsquo; generosity, then growth in the rest of the economy at constant prices plummets to a piffling 3.8% for the fourth quarter.<br /></div><div align="justify">&nbsp;</div><div align="justify"><img src="https://im4change.in/siteadmin/tinymce/uploaded/GDP growth.jpg" alt="GDP growth" width="628" height="462" /> <br /></div><div align="justify">&nbsp;</div><div align="justify">Indeed, if we do a similar exercise for the fourth quarter of the previous year, or FY16, leaving out government spending and agriculture, we find that GVA growth at constant prices in the rest of the economy at that time was 10.7%. The full impact of demonetisation may therefore be gauged in the fall of growth in this part of the economy from 10.7% to 3.8%.<br /><br />Chart 1 shows which sectors contributed how much to GVA growth during the fourth quarter of FY17. Notice the contribution of &ldquo;public administration, defence and other services&rdquo; was more than a third. The data on government final consumption expenditure (GFCE) from the expenditure-side numbers also shows that GFCE increased by as much as 31.9% in the fourth quarter of FY17, compared to the year-ago quarter.<br /><br />The numbers show that GVA in the construction sector contracted from a year ago in the fourth quarter of FY17. This is very significant, as the construction sector is one of the biggest sources of jobs for the masses.<br /><br />The terrible state of the banks is reflected in the poor contribution of the &ldquo;financial, real estate and professional services&rdquo; component of GVA.<br /><br />Please <a href="http://www.livemint.com/Money/hGjrhj5FAIxBsNkmKgcFtM/The-Indian-economy-finally-bares-its-demonetisation-scars.html" title="http://www.livemint.com/Money/hGjrhj5FAIxBsNkmKgcFtM/The-Indian-economy-finally-bares-its-demonetisation-scars.html">click here</a> to read more. <br /></div>               </font>
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&lt;em&gt;Very low GDP growth in the fourth quarter indicates that the slowdown is likely to persist in the current quarter as well&lt;br /&gt;
&lt;/em&gt;&lt;br /&gt;
Finally, the impact of demonetisation is visible in the gross domestic product (GDP) numbers. Gross value-added (GVA) growth at constant prices fell to a mere 5.6% in the fourth quarter of fiscal year 2017 (FY17), clearly showing the scars of demonetisation on the economy.&lt;br /&gt;
&lt;br /&gt;
That&amp;rsquo;s not all. The headline growth number conceals more than it reveals. If we leave out the &amp;ldquo;public administration, defence and other services&amp;rdquo; component of GVA, comprising mainly government expenditure, then growth slumps to an even lower 4.1% in the fourth quarter. Clearly, the impact of the pay hike to government personnel has bailed out the economy. And if we leave out &amp;ldquo;public administration, defence and other services&amp;rdquo; as well as agriculture, on the grounds that agricultural growth is chiefly due to the rain gods&amp;rsquo; generosity, then growth in the rest of the economy at constant prices plummets to a piffling 3.8% for the fourth quarter.&lt;br /&gt;
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&amp;nbsp;
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&amp;nbsp;
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Indeed, if we do a similar exercise for the fourth quarter of the previous year, or FY16, leaving out government spending and agriculture, we find that GVA growth at constant prices in the rest of the economy at that time was 10.7%. The full impact of demonetisation may therefore be gauged in the fall of growth in this part of the economy from 10.7% to 3.8%.&lt;br /&gt;
&lt;br /&gt;
Chart 1 shows which sectors contributed how much to GVA growth during the fourth quarter of FY17. Notice the contribution of &amp;ldquo;public administration, defence and other services&amp;rdquo; was more than a third. The data on government final consumption expenditure (GFCE) from the expenditure-side numbers also shows that GFCE increased by as much as 31.9% in the fourth quarter of FY17, compared to the year-ago quarter.&lt;br /&gt;
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The numbers show that GVA in the construction sector contracted from a year ago in the fourth quarter of FY17. This is very significant, as the construction sector is one of the biggest sources of jobs for the masses.&lt;br /&gt;
&lt;br /&gt;
The terrible state of the banks is reflected in the poor contribution of the &amp;ldquo;financial, real estate and professional services&amp;rdquo; component of GVA.&lt;br /&gt;
&lt;br /&gt;
Please &lt;a href=&quot;http://www.livemint.com/Money/hGjrhj5FAIxBsNkmKgcFtM/The-Indian-economy-finally-bares-its-demonetisation-scars.html&quot;&gt;click here&lt;/a&gt; to read more. &lt;br /&gt;
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Very low GDP growth in the fourth quarter indicates that the slowdown is likely to persist in the current quarter as well

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&lt;em&gt;Very low GDP growth in the fourth quarter indicates that the slowdown is likely to persist in the current quarter as well&lt;br /&gt;
&lt;/em&gt;&lt;br /&gt;
Finally, the impact of demonetisation is visible in the gross domestic product (GDP) numbers. Gross value-added (GVA) growth at constant prices fell to a mere 5.6% in the fourth quarter of fiscal year 2017 (FY17), clearly showing the scars of demonetisation on the economy.&lt;br /&gt;
&lt;br /&gt;
That&amp;rsquo;s not all. The headline growth number conceals more than it reveals. If we leave out the &amp;ldquo;public administration, defence and other services&amp;rdquo; component of GVA, comprising mainly government expenditure, then growth slumps to an even lower 4.1% in the fourth quarter. Clearly, the impact of the pay hike to government personnel has bailed out the economy. And if we leave out &amp;ldquo;public administration, defence and other services&amp;rdquo; as well as agriculture, on the grounds that agricultural growth is chiefly due to the rain gods&amp;rsquo; generosity, then growth in the rest of the economy at constant prices plummets to a piffling 3.8% for the fourth quarter.&lt;br /&gt;
&lt;/div&gt;
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&amp;nbsp;
&lt;/div&gt;
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&lt;/div&gt;
&lt;div align=&quot;justify&quot;&gt;
&amp;nbsp;
&lt;/div&gt;
&lt;div align=&quot;justify&quot;&gt;
Indeed, if we do a similar exercise for the fourth quarter of the previous year, or FY16, leaving out government spending and agriculture, we find that GVA growth at constant prices in the rest of the economy at that time was 10.7%. The full impact of demonetisation may therefore be gauged in the fall of growth in this part of the economy from 10.7% to 3.8%.&lt;br /&gt;
&lt;br /&gt;
Chart 1 shows which sectors contributed how much to GVA growth during the fourth quarter of FY17. Notice the contribution of &amp;ldquo;public administration, defence and other services&amp;rdquo; was more than a third. The data on government final consumption expenditure (GFCE) from the expenditure-side numbers also shows that GFCE increased by as much as 31.9% in the fourth quarter of FY17, compared to the year-ago quarter.&lt;br /&gt;
&lt;br /&gt;
The numbers show that GVA in the construction sector contracted from a year ago in the fourth quarter of FY17. This is very significant, as the construction sector is one of the biggest sources of jobs for the masses.&lt;br /&gt;
&lt;br /&gt;
The terrible state of the banks is reflected in the poor contribution of the &amp;ldquo;financial, real estate and professional services&amp;rdquo; component of GVA.&lt;br /&gt;
&lt;br /&gt;
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-Livemint.com

Very low GDP growth in the fourth quarter indicates that the slowdown is likely to persist in the current quarter as well

Finally, the impact of demonetisation is visible in the gross domestic product (GDP) numbers. Gross value-added (GVA) growth at...&#039;
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Very low GDP growth in the fourth quarter indicates that the slowdown is likely to persist in the current quarter as well

Finally, the impact of demonetisation is visible in the gross domestic product (GDP) numbers. Gross value-added (GVA) growth at..."/>
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                <strong>The Indian economy finally bares its demonetisation scars -Manas Chakravarty</strong></h1>
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                <div align="justify">-Livemint.com<br /><br /><em>Very low GDP growth in the fourth quarter indicates that the slowdown is likely to persist in the current quarter as well<br /></em><br />Finally, the impact of demonetisation is visible in the gross domestic product (GDP) numbers. Gross value-added (GVA) growth at constant prices fell to a mere 5.6% in the fourth quarter of fiscal year 2017 (FY17), clearly showing the scars of demonetisation on the economy.<br /><br />That&rsquo;s not all. The headline growth number conceals more than it reveals. If we leave out the &ldquo;public administration, defence and other services&rdquo; component of GVA, comprising mainly government expenditure, then growth slumps to an even lower 4.1% in the fourth quarter. Clearly, the impact of the pay hike to government personnel has bailed out the economy. And if we leave out &ldquo;public administration, defence and other services&rdquo; as well as agriculture, on the grounds that agricultural growth is chiefly due to the rain gods&rsquo; generosity, then growth in the rest of the economy at constant prices plummets to a piffling 3.8% for the fourth quarter.<br /></div><div align="justify">&nbsp;</div><div align="justify"><img src="https://im4change.in/siteadmin/tinymce/uploaded/GDP growth.jpg" alt="GDP growth" width="628" height="462" /> <br /></div><div align="justify">&nbsp;</div><div align="justify">Indeed, if we do a similar exercise for the fourth quarter of the previous year, or FY16, leaving out government spending and agriculture, we find that GVA growth at constant prices in the rest of the economy at that time was 10.7%. The full impact of demonetisation may therefore be gauged in the fall of growth in this part of the economy from 10.7% to 3.8%.<br /><br />Chart 1 shows which sectors contributed how much to GVA growth during the fourth quarter of FY17. Notice the contribution of &ldquo;public administration, defence and other services&rdquo; was more than a third. The data on government final consumption expenditure (GFCE) from the expenditure-side numbers also shows that GFCE increased by as much as 31.9% in the fourth quarter of FY17, compared to the year-ago quarter.<br /><br />The numbers show that GVA in the construction sector contracted from a year ago in the fourth quarter of FY17. This is very significant, as the construction sector is one of the biggest sources of jobs for the masses.<br /><br />The terrible state of the banks is reflected in the poor contribution of the &ldquo;financial, real estate and professional services&rdquo; component of GVA.<br /><br />Please <a href="http://www.livemint.com/Money/hGjrhj5FAIxBsNkmKgcFtM/The-Indian-economy-finally-bares-its-demonetisation-scars.html" title="http://www.livemint.com/Money/hGjrhj5FAIxBsNkmKgcFtM/The-Indian-economy-finally-bares-its-demonetisation-scars.html">click here</a> to read more. <br /></div>               </font>
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-Livemint.com&lt;br /&gt;
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&lt;em&gt;Very low GDP growth in the fourth quarter indicates that the slowdown is likely to persist in the current quarter as well&lt;br /&gt;
&lt;/em&gt;&lt;br /&gt;
Finally, the impact of demonetisation is visible in the gross domestic product (GDP) numbers. Gross value-added (GVA) growth at constant prices fell to a mere 5.6% in the fourth quarter of fiscal year 2017 (FY17), clearly showing the scars of demonetisation on the economy.&lt;br /&gt;
&lt;br /&gt;
That&amp;rsquo;s not all. The headline growth number conceals more than it reveals. If we leave out the &amp;ldquo;public administration, defence and other services&amp;rdquo; component of GVA, comprising mainly government expenditure, then growth slumps to an even lower 4.1% in the fourth quarter. Clearly, the impact of the pay hike to government personnel has bailed out the economy. And if we leave out &amp;ldquo;public administration, defence and other services&amp;rdquo; as well as agriculture, on the grounds that agricultural growth is chiefly due to the rain gods&amp;rsquo; generosity, then growth in the rest of the economy at constant prices plummets to a piffling 3.8% for the fourth quarter.&lt;br /&gt;
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&amp;nbsp;
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Indeed, if we do a similar exercise for the fourth quarter of the previous year, or FY16, leaving out government spending and agriculture, we find that GVA growth at constant prices in the rest of the economy at that time was 10.7%. The full impact of demonetisation may therefore be gauged in the fall of growth in this part of the economy from 10.7% to 3.8%.&lt;br /&gt;
&lt;br /&gt;
Chart 1 shows which sectors contributed how much to GVA growth during the fourth quarter of FY17. Notice the contribution of &amp;ldquo;public administration, defence and other services&amp;rdquo; was more than a third. The data on government final consumption expenditure (GFCE) from the expenditure-side numbers also shows that GFCE increased by as much as 31.9% in the fourth quarter of FY17, compared to the year-ago quarter.&lt;br /&gt;
&lt;br /&gt;
The numbers show that GVA in the construction sector contracted from a year ago in the fourth quarter of FY17. This is very significant, as the construction sector is one of the biggest sources of jobs for the masses.&lt;br /&gt;
&lt;br /&gt;
The terrible state of the banks is reflected in the poor contribution of the &amp;ldquo;financial, real estate and professional services&amp;rdquo; component of GVA.&lt;br /&gt;
&lt;br /&gt;
Please &lt;a href=&quot;http://www.livemint.com/Money/hGjrhj5FAIxBsNkmKgcFtM/The-Indian-economy-finally-bares-its-demonetisation-scars.html&quot;&gt;click here&lt;/a&gt; to read more. &lt;br /&gt;
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Very low GDP growth in the fourth quarter indicates that the slowdown is likely to persist in the current quarter as well

Finally, the impact of demonetisation is visible in the gross domestic product (GDP) numbers. Gross value-added (GVA) growth at...&#039;,
	&#039;disp&#039; =&gt; &#039;&lt;div align=&quot;justify&quot;&gt;-Livemint.com&lt;br /&gt;&lt;br /&gt;&lt;em&gt;Very low GDP growth in the fourth quarter indicates that the slowdown is likely to persist in the current quarter as well&lt;br /&gt;&lt;/em&gt;&lt;br /&gt;Finally, the impact of demonetisation is visible in the gross domestic product (GDP) numbers. Gross value-added (GVA) growth at constant prices fell to a mere 5.6% in the fourth quarter of fiscal year 2017 (FY17), clearly showing the scars of demonetisation on the economy.&lt;br /&gt;&lt;br /&gt;That&amp;rsquo;s not all. The headline growth number conceals more than it reveals. If we leave out the &amp;ldquo;public administration, defence and other services&amp;rdquo; component of GVA, comprising mainly government expenditure, then growth slumps to an even lower 4.1% in the fourth quarter. Clearly, the impact of the pay hike to government personnel has bailed out the economy. And if we leave out &amp;ldquo;public administration, defence and other services&amp;rdquo; as well as agriculture, on the grounds that agricultural growth is chiefly due to the rain gods&amp;rsquo; generosity, then growth in the rest of the economy at constant prices plummets to a piffling 3.8% for the fourth quarter.&lt;br /&gt;&lt;/div&gt;&lt;div align=&quot;justify&quot;&gt;&amp;nbsp;&lt;/div&gt;&lt;div align=&quot;justify&quot;&gt;&lt;img src=&quot;https://im4change.in/siteadmin/tinymce/uploaded/GDP growth.jpg&quot; alt=&quot;GDP growth&quot; width=&quot;628&quot; height=&quot;462&quot; /&gt; &lt;br /&gt;&lt;/div&gt;&lt;div align=&quot;justify&quot;&gt;&amp;nbsp;&lt;/div&gt;&lt;div align=&quot;justify&quot;&gt;Indeed, if we do a similar exercise for the fourth quarter of the previous year, or FY16, leaving out government spending and agriculture, we find that GVA growth at constant prices in the rest of the economy at that time was 10.7%. The full impact of demonetisation may therefore be gauged in the fall of growth in this part of the economy from 10.7% to 3.8%.&lt;br /&gt;&lt;br /&gt;Chart 1 shows which sectors contributed how much to GVA growth during the fourth quarter of FY17. Notice the contribution of &amp;ldquo;public administration, defence and other services&amp;rdquo; was more than a third. The data on government final consumption expenditure (GFCE) from the expenditure-side numbers also shows that GFCE increased by as much as 31.9% in the fourth quarter of FY17, compared to the year-ago quarter.&lt;br /&gt;&lt;br /&gt;The numbers show that GVA in the construction sector contracted from a year ago in the fourth quarter of FY17. This is very significant, as the construction sector is one of the biggest sources of jobs for the masses.&lt;br /&gt;&lt;br /&gt;The terrible state of the banks is reflected in the poor contribution of the &amp;ldquo;financial, real estate and professional services&amp;rdquo; component of GVA.&lt;br /&gt;&lt;br /&gt;Please &lt;a href=&quot;http://www.livemint.com/Money/hGjrhj5FAIxBsNkmKgcFtM/The-Indian-economy-finally-bares-its-demonetisation-scars.html&quot; title=&quot;http://www.livemint.com/Money/hGjrhj5FAIxBsNkmKgcFtM/The-Indian-economy-finally-bares-its-demonetisation-scars.html&quot;&gt;click here&lt;/a&gt; to read more. &lt;br /&gt;&lt;/div&gt;&#039;,
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-Livemint.com&lt;br /&gt;
&lt;br /&gt;
&lt;em&gt;Very low GDP growth in the fourth quarter indicates that the slowdown is likely to persist in the current quarter as well&lt;br /&gt;
&lt;/em&gt;&lt;br /&gt;
Finally, the impact of demonetisation is visible in the gross domestic product (GDP) numbers. Gross value-added (GVA) growth at constant prices fell to a mere 5.6% in the fourth quarter of fiscal year 2017 (FY17), clearly showing the scars of demonetisation on the economy.&lt;br /&gt;
&lt;br /&gt;
That&amp;rsquo;s not all. The headline growth number conceals more than it reveals. If we leave out the &amp;ldquo;public administration, defence and other services&amp;rdquo; component of GVA, comprising mainly government expenditure, then growth slumps to an even lower 4.1% in the fourth quarter. Clearly, the impact of the pay hike to government personnel has bailed out the economy. And if we leave out &amp;ldquo;public administration, defence and other services&amp;rdquo; as well as agriculture, on the grounds that agricultural growth is chiefly due to the rain gods&amp;rsquo; generosity, then growth in the rest of the economy at constant prices plummets to a piffling 3.8% for the fourth quarter.&lt;br /&gt;
&lt;/div&gt;
&lt;div align=&quot;justify&quot;&gt;
&amp;nbsp;
&lt;/div&gt;
&lt;div align=&quot;justify&quot;&gt;
&lt;img src=&quot;tinymce/uploaded/GDP growth.jpg&quot; alt=&quot;GDP growth&quot; width=&quot;628&quot; height=&quot;462&quot; /&gt; &lt;br /&gt;
&lt;/div&gt;
&lt;div align=&quot;justify&quot;&gt;
&amp;nbsp;
&lt;/div&gt;
&lt;div align=&quot;justify&quot;&gt;
Indeed, if we do a similar exercise for the fourth quarter of the previous year, or FY16, leaving out government spending and agriculture, we find that GVA growth at constant prices in the rest of the economy at that time was 10.7%. The full impact of demonetisation may therefore be gauged in the fall of growth in this part of the economy from 10.7% to 3.8%.&lt;br /&gt;
&lt;br /&gt;
Chart 1 shows which sectors contributed how much to GVA growth during the fourth quarter of FY17. Notice the contribution of &amp;ldquo;public administration, defence and other services&amp;rdquo; was more than a third. The data on government final consumption expenditure (GFCE) from the expenditure-side numbers also shows that GFCE increased by as much as 31.9% in the fourth quarter of FY17, compared to the year-ago quarter.&lt;br /&gt;
&lt;br /&gt;
The numbers show that GVA in the construction sector contracted from a year ago in the fourth quarter of FY17. This is very significant, as the construction sector is one of the biggest sources of jobs for the masses.&lt;br /&gt;
&lt;br /&gt;
The terrible state of the banks is reflected in the poor contribution of the &amp;ldquo;financial, real estate and professional services&amp;rdquo; component of GVA.&lt;br /&gt;
&lt;br /&gt;
Please &lt;a href=&quot;http://www.livemint.com/Money/hGjrhj5FAIxBsNkmKgcFtM/The-Indian-economy-finally-bares-its-demonetisation-scars.html&quot;&gt;click here&lt;/a&gt; to read more. &lt;br /&gt;
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-Livemint.com

Very low GDP growth in the fourth quarter indicates that the slowdown is likely to persist in the current quarter as well

Finally, the impact of demonetisation is visible in the gross domestic product (GDP) numbers. Gross value-added (GVA) growth at...&#039;
$disp = &#039;&lt;div align=&quot;justify&quot;&gt;-Livemint.com&lt;br /&gt;&lt;br /&gt;&lt;em&gt;Very low GDP growth in the fourth quarter indicates that the slowdown is likely to persist in the current quarter as well&lt;br /&gt;&lt;/em&gt;&lt;br /&gt;Finally, the impact of demonetisation is visible in the gross domestic product (GDP) numbers. Gross value-added (GVA) growth at constant prices fell to a mere 5.6% in the fourth quarter of fiscal year 2017 (FY17), clearly showing the scars of demonetisation on the economy.&lt;br /&gt;&lt;br /&gt;That&amp;rsquo;s not all. The headline growth number conceals more than it reveals. If we leave out the &amp;ldquo;public administration, defence and other services&amp;rdquo; component of GVA, comprising mainly government expenditure, then growth slumps to an even lower 4.1% in the fourth quarter. Clearly, the impact of the pay hike to government personnel has bailed out the economy. And if we leave out &amp;ldquo;public administration, defence and other services&amp;rdquo; as well as agriculture, on the grounds that agricultural growth is chiefly due to the rain gods&amp;rsquo; generosity, then growth in the rest of the economy at constant prices plummets to a piffling 3.8% for the fourth quarter.&lt;br /&gt;&lt;/div&gt;&lt;div align=&quot;justify&quot;&gt;&amp;nbsp;&lt;/div&gt;&lt;div align=&quot;justify&quot;&gt;&lt;img src=&quot;https://im4change.in/siteadmin/tinymce/uploaded/GDP growth.jpg&quot; alt=&quot;GDP growth&quot; width=&quot;628&quot; height=&quot;462&quot; /&gt; &lt;br /&gt;&lt;/div&gt;&lt;div align=&quot;justify&quot;&gt;&amp;nbsp;&lt;/div&gt;&lt;div align=&quot;justify&quot;&gt;Indeed, if we do a similar exercise for the fourth quarter of the previous year, or FY16, leaving out government spending and agriculture, we find that GVA growth at constant prices in the rest of the economy at that time was 10.7%. The full impact of demonetisation may therefore be gauged in the fall of growth in this part of the economy from 10.7% to 3.8%.&lt;br /&gt;&lt;br /&gt;Chart 1 shows which sectors contributed how much to GVA growth during the fourth quarter of FY17. Notice the contribution of &amp;ldquo;public administration, defence and other services&amp;rdquo; was more than a third. The data on government final consumption expenditure (GFCE) from the expenditure-side numbers also shows that GFCE increased by as much as 31.9% in the fourth quarter of FY17, compared to the year-ago quarter.&lt;br /&gt;&lt;br /&gt;The numbers show that GVA in the construction sector contracted from a year ago in the fourth quarter of FY17. This is very significant, as the construction sector is one of the biggest sources of jobs for the masses.&lt;br /&gt;&lt;br /&gt;The terrible state of the banks is reflected in the poor contribution of the &amp;ldquo;financial, real estate and professional services&amp;rdquo; component of GVA.&lt;br /&gt;&lt;br /&gt;Please &lt;a href=&quot;http://www.livemint.com/Money/hGjrhj5FAIxBsNkmKgcFtM/The-Indian-economy-finally-bares-its-demonetisation-scars.html&quot; title=&quot;http://www.livemint.com/Money/hGjrhj5FAIxBsNkmKgcFtM/The-Indian-economy-finally-bares-its-demonetisation-scars.html&quot;&gt;click here&lt;/a&gt; to read more. &lt;br /&gt;&lt;/div&gt;&#039;
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Very low GDP growth in the fourth quarter indicates that the slowdown is likely to persist in the current quarter as well

Finally, the impact of demonetisation is visible in the gross domestic product (GDP) numbers. Gross value-added (GVA) growth at..."/>
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                <strong>The Indian economy finally bares its demonetisation scars -Manas Chakravarty</strong></h1>
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                <div align="justify">-Livemint.com<br /><br /><em>Very low GDP growth in the fourth quarter indicates that the slowdown is likely to persist in the current quarter as well<br /></em><br />Finally, the impact of demonetisation is visible in the gross domestic product (GDP) numbers. Gross value-added (GVA) growth at constant prices fell to a mere 5.6% in the fourth quarter of fiscal year 2017 (FY17), clearly showing the scars of demonetisation on the economy.<br /><br />That&rsquo;s not all. The headline growth number conceals more than it reveals. If we leave out the &ldquo;public administration, defence and other services&rdquo; component of GVA, comprising mainly government expenditure, then growth slumps to an even lower 4.1% in the fourth quarter. Clearly, the impact of the pay hike to government personnel has bailed out the economy. And if we leave out &ldquo;public administration, defence and other services&rdquo; as well as agriculture, on the grounds that agricultural growth is chiefly due to the rain gods&rsquo; generosity, then growth in the rest of the economy at constant prices plummets to a piffling 3.8% for the fourth quarter.<br /></div><div align="justify">&nbsp;</div><div align="justify"><img src="https://im4change.in/siteadmin/tinymce/uploaded/GDP growth.jpg" alt="GDP growth" width="628" height="462" /> <br /></div><div align="justify">&nbsp;</div><div align="justify">Indeed, if we do a similar exercise for the fourth quarter of the previous year, or FY16, leaving out government spending and agriculture, we find that GVA growth at constant prices in the rest of the economy at that time was 10.7%. The full impact of demonetisation may therefore be gauged in the fall of growth in this part of the economy from 10.7% to 3.8%.<br /><br />Chart 1 shows which sectors contributed how much to GVA growth during the fourth quarter of FY17. Notice the contribution of &ldquo;public administration, defence and other services&rdquo; was more than a third. The data on government final consumption expenditure (GFCE) from the expenditure-side numbers also shows that GFCE increased by as much as 31.9% in the fourth quarter of FY17, compared to the year-ago quarter.<br /><br />The numbers show that GVA in the construction sector contracted from a year ago in the fourth quarter of FY17. This is very significant, as the construction sector is one of the biggest sources of jobs for the masses.<br /><br />The terrible state of the banks is reflected in the poor contribution of the &ldquo;financial, real estate and professional services&rdquo; component of GVA.<br /><br />Please <a href="http://www.livemint.com/Money/hGjrhj5FAIxBsNkmKgcFtM/The-Indian-economy-finally-bares-its-demonetisation-scars.html" title="http://www.livemint.com/Money/hGjrhj5FAIxBsNkmKgcFtM/The-Indian-economy-finally-bares-its-demonetisation-scars.html">click here</a> to read more. <br /></div>               </font>
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-Livemint.com<br />
<br />
<em>Very low GDP growth in the fourth quarter indicates that the slowdown is likely to persist in the current quarter as well<br />
</em><br />
Finally, the impact of demonetisation is visible in the gross domestic product (GDP) numbers. Gross value-added (GVA) growth at constant prices fell to a mere 5.6% in the fourth quarter of fiscal year 2017 (FY17), clearly showing the scars of demonetisation on the economy.<br />
<br />
That&rsquo;s not all. The headline growth number conceals more than it reveals. If we leave out the &ldquo;public administration, defence and other services&rdquo; component of GVA, comprising mainly government expenditure, then growth slumps to an even lower 4.1% in the fourth quarter. Clearly, the impact of the pay hike to government personnel has bailed out the economy. And if we leave out &ldquo;public administration, defence and other services&rdquo; as well as agriculture, on the grounds that agricultural growth is chiefly due to the rain gods&rsquo; generosity, then growth in the rest of the economy at constant prices plummets to a piffling 3.8% for the fourth quarter.<br />
</div>
<div align="justify">
&nbsp;
</div>
<div align="justify">
<img src="tinymce/uploaded/GDP growth.jpg" alt="GDP growth" width="628" height="462" /> <br />
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<div align="justify">
&nbsp;
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<div align="justify">
Indeed, if we do a similar exercise for the fourth quarter of the previous year, or FY16, leaving out government spending and agriculture, we find that GVA growth at constant prices in the rest of the economy at that time was 10.7%. The full impact of demonetisation may therefore be gauged in the fall of growth in this part of the economy from 10.7% to 3.8%.<br />
<br />
Chart 1 shows which sectors contributed how much to GVA growth during the fourth quarter of FY17. Notice the contribution of &ldquo;public administration, defence and other services&rdquo; was more than a third. The data on government final consumption expenditure (GFCE) from the expenditure-side numbers also shows that GFCE increased by as much as 31.9% in the fourth quarter of FY17, compared to the year-ago quarter.<br />
<br />
The numbers show that GVA in the construction sector contracted from a year ago in the fourth quarter of FY17. This is very significant, as the construction sector is one of the biggest sources of jobs for the masses.<br />
<br />
The terrible state of the banks is reflected in the poor contribution of the &ldquo;financial, real estate and professional services&rdquo; component of GVA.<br />
<br />
Please <a href="http://www.livemint.com/Money/hGjrhj5FAIxBsNkmKgcFtM/The-Indian-economy-finally-bares-its-demonetisation-scars.html">click here</a> to read more. <br />
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-Livemint.com

Very low GDP growth in the fourth quarter indicates that the slowdown is likely to persist in the current quarter as well

Finally, the impact of demonetisation is visible in the gross domestic product (GDP) numbers. Gross value-added (GVA) growth at...',
	'disp' => '<div align="justify">-Livemint.com<br /><br /><em>Very low GDP growth in the fourth quarter indicates that the slowdown is likely to persist in the current quarter as well<br /></em><br />Finally, the impact of demonetisation is visible in the gross domestic product (GDP) numbers. Gross value-added (GVA) growth at constant prices fell to a mere 5.6% in the fourth quarter of fiscal year 2017 (FY17), clearly showing the scars of demonetisation on the economy.<br /><br />That&rsquo;s not all. The headline growth number conceals more than it reveals. If we leave out the &ldquo;public administration, defence and other services&rdquo; component of GVA, comprising mainly government expenditure, then growth slumps to an even lower 4.1% in the fourth quarter. Clearly, the impact of the pay hike to government personnel has bailed out the economy. And if we leave out &ldquo;public administration, defence and other services&rdquo; as well as agriculture, on the grounds that agricultural growth is chiefly due to the rain gods&rsquo; generosity, then growth in the rest of the economy at constant prices plummets to a piffling 3.8% for the fourth quarter.<br /></div><div align="justify">&nbsp;</div><div align="justify"><img src="https://im4change.in/siteadmin/tinymce/uploaded/GDP growth.jpg" alt="GDP growth" width="628" height="462" /> <br /></div><div align="justify">&nbsp;</div><div align="justify">Indeed, if we do a similar exercise for the fourth quarter of the previous year, or FY16, leaving out government spending and agriculture, we find that GVA growth at constant prices in the rest of the economy at that time was 10.7%. The full impact of demonetisation may therefore be gauged in the fall of growth in this part of the economy from 10.7% to 3.8%.<br /><br />Chart 1 shows which sectors contributed how much to GVA growth during the fourth quarter of FY17. Notice the contribution of &ldquo;public administration, defence and other services&rdquo; was more than a third. The data on government final consumption expenditure (GFCE) from the expenditure-side numbers also shows that GFCE increased by as much as 31.9% in the fourth quarter of FY17, compared to the year-ago quarter.<br /><br />The numbers show that GVA in the construction sector contracted from a year ago in the fourth quarter of FY17. This is very significant, as the construction sector is one of the biggest sources of jobs for the masses.<br /><br />The terrible state of the banks is reflected in the poor contribution of the &ldquo;financial, real estate and professional services&rdquo; component of GVA.<br /><br />Please <a href="http://www.livemint.com/Money/hGjrhj5FAIxBsNkmKgcFtM/The-Indian-economy-finally-bares-its-demonetisation-scars.html" title="http://www.livemint.com/Money/hGjrhj5FAIxBsNkmKgcFtM/The-Indian-economy-finally-bares-its-demonetisation-scars.html">click here</a> to read more. <br /></div>',
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	'title' => 'The Indian economy finally bares its demonetisation scars -Manas Chakravarty',
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-Livemint.com<br />
<br />
<em>Very low GDP growth in the fourth quarter indicates that the slowdown is likely to persist in the current quarter as well<br />
</em><br />
Finally, the impact of demonetisation is visible in the gross domestic product (GDP) numbers. Gross value-added (GVA) growth at constant prices fell to a mere 5.6% in the fourth quarter of fiscal year 2017 (FY17), clearly showing the scars of demonetisation on the economy.<br />
<br />
That&rsquo;s not all. The headline growth number conceals more than it reveals. If we leave out the &ldquo;public administration, defence and other services&rdquo; component of GVA, comprising mainly government expenditure, then growth slumps to an even lower 4.1% in the fourth quarter. Clearly, the impact of the pay hike to government personnel has bailed out the economy. And if we leave out &ldquo;public administration, defence and other services&rdquo; as well as agriculture, on the grounds that agricultural growth is chiefly due to the rain gods&rsquo; generosity, then growth in the rest of the economy at constant prices plummets to a piffling 3.8% for the fourth quarter.<br />
</div>
<div align="justify">
&nbsp;
</div>
<div align="justify">
<img src="tinymce/uploaded/GDP growth.jpg" alt="GDP growth" width="628" height="462" /> <br />
</div>
<div align="justify">
&nbsp;
</div>
<div align="justify">
Indeed, if we do a similar exercise for the fourth quarter of the previous year, or FY16, leaving out government spending and agriculture, we find that GVA growth at constant prices in the rest of the economy at that time was 10.7%. The full impact of demonetisation may therefore be gauged in the fall of growth in this part of the economy from 10.7% to 3.8%.<br />
<br />
Chart 1 shows which sectors contributed how much to GVA growth during the fourth quarter of FY17. Notice the contribution of &ldquo;public administration, defence and other services&rdquo; was more than a third. The data on government final consumption expenditure (GFCE) from the expenditure-side numbers also shows that GFCE increased by as much as 31.9% in the fourth quarter of FY17, compared to the year-ago quarter.<br />
<br />
The numbers show that GVA in the construction sector contracted from a year ago in the fourth quarter of FY17. This is very significant, as the construction sector is one of the biggest sources of jobs for the masses.<br />
<br />
The terrible state of the banks is reflected in the poor contribution of the &ldquo;financial, real estate and professional services&rdquo; component of GVA.<br />
<br />
Please <a href="http://www.livemint.com/Money/hGjrhj5FAIxBsNkmKgcFtM/The-Indian-economy-finally-bares-its-demonetisation-scars.html">click here</a> to read more. <br />
</div>',
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-Livemint.com

Very low GDP growth in the fourth quarter indicates that the slowdown is likely to persist in the current quarter as well

Finally, the impact of demonetisation is visible in the gross domestic product (GDP) numbers. Gross value-added (GVA) growth at...'
$disp = '<div align="justify">-Livemint.com<br /><br /><em>Very low GDP growth in the fourth quarter indicates that the slowdown is likely to persist in the current quarter as well<br /></em><br />Finally, the impact of demonetisation is visible in the gross domestic product (GDP) numbers. Gross value-added (GVA) growth at constant prices fell to a mere 5.6% in the fourth quarter of fiscal year 2017 (FY17), clearly showing the scars of demonetisation on the economy.<br /><br />That&rsquo;s not all. The headline growth number conceals more than it reveals. If we leave out the &ldquo;public administration, defence and other services&rdquo; component of GVA, comprising mainly government expenditure, then growth slumps to an even lower 4.1% in the fourth quarter. Clearly, the impact of the pay hike to government personnel has bailed out the economy. And if we leave out &ldquo;public administration, defence and other services&rdquo; as well as agriculture, on the grounds that agricultural growth is chiefly due to the rain gods&rsquo; generosity, then growth in the rest of the economy at constant prices plummets to a piffling 3.8% for the fourth quarter.<br /></div><div align="justify">&nbsp;</div><div align="justify"><img src="https://im4change.in/siteadmin/tinymce/uploaded/GDP growth.jpg" alt="GDP growth" width="628" height="462" /> <br /></div><div align="justify">&nbsp;</div><div align="justify">Indeed, if we do a similar exercise for the fourth quarter of the previous year, or FY16, leaving out government spending and agriculture, we find that GVA growth at constant prices in the rest of the economy at that time was 10.7%. The full impact of demonetisation may therefore be gauged in the fall of growth in this part of the economy from 10.7% to 3.8%.<br /><br />Chart 1 shows which sectors contributed how much to GVA growth during the fourth quarter of FY17. Notice the contribution of &ldquo;public administration, defence and other services&rdquo; was more than a third. The data on government final consumption expenditure (GFCE) from the expenditure-side numbers also shows that GFCE increased by as much as 31.9% in the fourth quarter of FY17, compared to the year-ago quarter.<br /><br />The numbers show that GVA in the construction sector contracted from a year ago in the fourth quarter of FY17. This is very significant, as the construction sector is one of the biggest sources of jobs for the masses.<br /><br />The terrible state of the banks is reflected in the poor contribution of the &ldquo;financial, real estate and professional services&rdquo; component of GVA.<br /><br />Please <a href="http://www.livemint.com/Money/hGjrhj5FAIxBsNkmKgcFtM/The-Indian-economy-finally-bares-its-demonetisation-scars.html" title="http://www.livemint.com/Money/hGjrhj5FAIxBsNkmKgcFtM/The-Indian-economy-finally-bares-its-demonetisation-scars.html">click here</a> to read more. <br /></div>'
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The Indian economy finally bares its demonetisation scars -Manas Chakravarty

-Livemint.com Very low GDP growth in the fourth quarter indicates that the slowdown is likely to persist in the current quarter as well Finally, the impact of demonetisation is visible in the gross domestic product (GDP) numbers. Gross value-added (GVA) growth at constant prices fell to a mere 5.6% in the fourth quarter of fiscal year 2017 (FY17), clearly showing the scars of demonetisation on the economy. That’s not all. The headline growth number conceals more than it reveals. If we leave out the “public administration, defence and other services” component of GVA, comprising mainly government expenditure, then growth slumps to an even lower 4.1% in the fourth quarter. Clearly, the impact of the pay hike to government personnel has bailed out the economy. And if we leave out “public administration, defence and other services” as well as agriculture, on the grounds that agricultural growth is chiefly due to the rain gods’ generosity, then growth in the rest of the economy at constant prices plummets to a piffling 3.8% for the fourth quarter.     Indeed, if we do a similar exercise for the fourth quarter of the previous year, or FY16, leaving out government spending and agriculture, we find that GVA growth at constant prices in the rest of the economy at that time was 10.7%. The full impact of demonetisation may therefore be gauged in the fall of growth in this part of the economy from 10.7% to 3.8%. Chart 1 shows which sectors contributed how much to GVA growth during the fourth quarter of FY17. Notice the contribution of “public administration, defence and other services” was more than a third. The data on government final consumption expenditure (GFCE) from the expenditure-side numbers also shows that GFCE increased by as much as 31.9% in the fourth quarter of FY17, compared to the year-ago quarter. The numbers show that GVA in the construction sector contracted from a year ago in the fourth quarter of FY17. This is very significant, as the construction sector is one of the biggest sources of jobs for the masses. The terrible state of the banks is reflected in the poor contribution of the “financial, real estate and professional services” component of GVA. Please click here to read more.