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After Reaching New Heights India’s GDP Takes Turn for Worse
June 14, 2017
India lost its status of world’s fastest growing economy on Wednesday as the economic growth plummeted to its lowest in the last 2 years. Although the GDP was estimated to be around 6.5% for Jan-Mar quarter by expert analysts, the actual figure came out to be 6.1%.
India’s GDP was even surpassed by China that scored a growth of 6.9 months for Jan-Mar quarter. According to Reuters data, the March quarter growth of India is the lowest since 2014 December quarter, when a 6.0% growth was recorded.
While analysts believe that the note-ban would certainly impact the economy, this kind of result was unexpected.
