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

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.