Demonetisation: Govt says no direct data available to measure effect on GDP

GDP depends on multiple factors, says Arjun Ram Meghwal in Rajya Sabha

The government on Tuesday said the growth of the country was dependent on multiple factors, of which demonetisation was only a part, as no direct data was available to measure the impact of note ban on the GDP.

"Gross Domestic Product of a country depends on a number of factors including structural, external, fiscal and monetary factors (which is only partly reflected by demonetisation)," Minister of State for Finance Arjun Ram Meghwal said in a written reply to the Rajya Sabha.

"According to the Central Statistics Office that brings out data on GDP, no direct data is available to measure the effect of demonetisation on GDP," the minister noted.

Meghwal also said that there was no comprehensive survey-based information with the government about the impact of demonetisation on GDP.