India's GDP grows 7.3% in second quarter of 2016-17
GDP growth was 7.1% in the first quarter of the current fiscal year.
As per CSO, India's Gross Domestic Product (GDP) grew at a healthy rate of 7.3% in the July-September quarter i.e Q2 of the fiscal year 2016-17.
GDP growth was 7.1% in the previous quarter. The increase in growth rate was owing to strong consumption demand.
However, with sharp cash crunch post PM Modi's decision to scrap Rs 500, Rs 1000 notes on November 8 , is likely to impact GDP growth in the coming future. Former PM Manmohan Singh has predicted in Rajya Sabha that GDP growth may get subdued by 2% due to demonetization.