Top
Connect Gujarat

Indian economy will take Rs 4.7 lakh cr hit on demonetisation: Amit Mitra

Calling demonetisation “a big magnum-sized tsunami”, West Bengal Finance Minister Amit Mitra said India’s gross domestic product (GDP) in the current fiscal (2016-17) will take a huge hit on account of demonestisation. “In the best case scenario, the GDP for the current fiscal could go down to 5.5 per cent from the 7.5 per cent it […]

Indian economy will take Rs 4.7 lakh cr hit on demonetisation: Amit Mitra
X

Calling demonetisation “a big magnum-sized tsunami”, West Bengal Finance Minister Amit Mitra said India’s gross domestic product (GDP) in the current fiscal (2016-17) will take a huge hit on account of demonestisation.

“In the best case scenario, the GDP for the current fiscal could go down to 5.5 per cent from the 7.5 per cent it had touched in 2015-16,” Mitra

“From an estimate that I have, the growth rate in aggregate will fall over 3 per cent and arrive at 4.3 per cent,” he said.

“This means a loss of Rs 4.7 lakh crore of GDP, this will be extinguished. This is in the worst case scenario…the best case scenario is loss of Rs 3 lakh crore,” Mitra added.

Next Story
Share it