India’s GDP growth in 2016-17 came in at 7.1%, in line with the official estimate. Gross domestic product (GDP) growth slowed to 6.1% in the fiscal fourth quarter from 7% in the third, according to data released by the government on Wednesday. India’s per capita income in real terms in 2016-17 also slowed to a growth pace of 5.7% to Rs82,296 ($1,276) against 6.8% growth last year. Chief economic adviser Arvind Subramanian said the fourth quarter numbers had been expected to reflect the biggest impact of demonetisation. Agriculture output growth slowed but stayed robust at 5.2% and financial services grew by just 2.2%.

Source: Mint May 31, 2017 12:36 UTC