Growth of Indian Economy Slipped

The economy of India is projected to fell nearly three-year low for the last three months of the previous year due to failing demand on the back of an unexpected decision made by PM Narendra Modi about the restriction of bank notes with large denominations, as supported by economists in a Reuter’s poll.

There were 30 economists who took the poll and further showed that the GDP growth of the Indian republic decline to 6.4 percent per annum basis during the quarter of October to December. Some of the experts remained uncertain regarding the greater effect by the currency ban.

Moreover, during the months from July to September the economy grew by 7.3 percent in the past year and labeled as the “fastest-growing economy” among other countries worldwide.