Chief Economic Advisor Arvind Subramanian addressing the media after the submission of Economic Survey in New Delhi on Tuesday. The Survey pegs economic growth in 2016-17 at 7.1%, but this is based mainly on information for months before the November 8 demonetisation of Rs. In the long run, tax revenues and GDP growth would be bolstered on account of greater tax compliance and a reduction in real estate prices. The Survey pegs economic growth in 2016-17 at 7.1%, but this is based mainly on information for months before the November 8 demonetisation of ,500 and ,1,000 notes. This is half a percentage point lower than the 7.6% growth last year, but the CEA warned that comparisons attributing the difference in growth numbers to demonetisation alone would be foolhardy.

Source: The Hindu January 31, 2017 17:33 UTC