Indian economy’s growth estimated at 7.1% in 2016-17: Government

The Indian economy is expected to grow at 7.1 per cent this fiscal, according to an official advance estimate for the year released on Friday, compared with actual expansion of 7.1 per cent in the first six months of 2016-17.

According to the estimate of national income for 2016-17 released by the Central Statistics Office (CSO), the country’ gross domestic product will grow at 7.1 percent in 2016-17 compared to 7.6 per cent in 2015-16.

The anticipated growth of real GVA (gross value added, which excludes taxes and subsidies) in 2016-17 is 7 per cent against 7.2 per cent in 2015-16, said an official statement.

Going by the parameters used for the advance estimate, the impact of demonetisation has not been considered in the forecast.