 "A bank officer in Jammu displays a bunch of new ~2000 notes, while customers queue up to withdraw cash. Photo: PTI")
The government’s statistics office expects the declining trend in investments to reverse in the second half of the current financial year despite demonetisation.
The gross fixed capital formation (GFCF) is now projected to expand by 4.2 per cent in October-March of 2016-17 after it contracted by 4.4 per cent over April-September.
Advance gross domestic product (GDP) estimates, put out by the Central Statistics Office (CSO) on Friday, showed GFCF, which connotes investment, is likely to contract by 0.16 per cent for the whole of FY17.
This raises the question as to whether the CSO has overestimated investment activity in the
