FM Jaitley downplays note ban shadow on growth

Says growth rates between 7-8% 'very good' by global standards

Union Finance Minister, Finance Minister, Arun Jaitley, Jaitley, NDA government, NDA

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Union Finance Minister Arun Jaitley addresses a press conference on 3 years achievements of NDA government in New Delhi on Thursday. Photo: PTI

Arup Roychoudhury New Delhi

Last Updated : Jun 02 2017 | 9:55 AM IST

A day after gross domestic product (GDP) growth showed a sharp slowdown in the January-March quarter, Finance Minister Arun Jaitley said demonetisation alone could not be blamed for the slower rate of growth. Growth rates between 7-8 per cent were “very good” by global standards, he added.

Official data released on Wednesday showed economic growth fell to at least a four quarter low of 6.1 per cent during January-March 2017, and to a three-year low of 7.1 per cent in FY17, reflecting the impact of the note ban.

“There are several factors which can contribute to GDP in a particular

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