Good news or bad?

Revised estimates suggest GDP grew at 8.2% during note ban

The Union Ministry of Statistics and Programme Implementation has released its revised estimates of national income for 2017-18, in advance of the Union Budget due to be presented on Friday. Growth in real gross domestic product (GDP) at constant 2011-12 prices for that fiscal year is now pegged at 7.2 per cent as distinct from to 6.7 per cent in the advance estimates. Somewhat surprisingly, the second revised estimates of GDP growth at constant prices in 2016-17, the year of demonetisation, have been revised upwards by over a percentage point, from 7.1 per cent to 8.2 per cent. Relatively slow