Advance GDP estimates may not fully capture demonetisation effect

Much of the Q3 data will simply not be available for the CSO to factor in its calculation

The advance estimates of GDP for 2016-17, to be released later this week, might not fully capture the disruption in economic activity due to demonetisation. As these estimates will be based mostly on data till October, before demonetisation kicked in, they might paint a rosier picture of the economy than the ground reality. 

Further, as the Budget numbers will be based on advance estimates, to be released by the Central Statistics Office, it is possible that those, too, are optimistic in their growth projections. 
 

Traditionally, CSO published advance estimates of GDP growth on February 9. To arrive at these estimates,