 "Click on picture for details")
As a new financial year dawns, it is instructive to ask whether growth is on a stronger footing than before. The evidence is mixed.
Gross domestic product (GDP) is expected to grow at 7.1 per cent in FY17, down from 7.9 per cent in FY16. While precise estimates of how the economy fared after demonetisation will be available in a few years, initial estimates in chart 1 show that GDP grew seven per cent in Q3FY17, shrugging off the note ban impact. Growth was driven largely by agriculture, manufacturing and government spending.
But, other economic indicators suggest continued
Gross domestic product (GDP) is expected to grow at 7.1 per cent in FY17, down from 7.9 per cent in FY16. While precise estimates of how the economy fared after demonetisation will be available in a few years, initial estimates in chart 1 show that GDP grew seven per cent in Q3FY17, shrugging off the note ban impact. Growth was driven largely by agriculture, manufacturing and government spending.
But, other economic indicators suggest continued
