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Budget 2017 lowers nominal GDP growth rate estimate to 11% for FY17

Budget 2017 lowers nominal GDP growth rate estimate to 11% for FY17

Friday, February 3, 2017, 12:45 PM

Budget 2017 presented by Arun Jaitley has significantly cut nominal gross domestic product (GDP) growth estimate for 2016-17, holding that the advance estimates released by the statistics department last month do not include the “trends of decline in growth rate”, without naming demonetisation. While CSO estimated nominal GDP growth rate at 11.9% for 2016-17, the finance ministry has assumed 11% growth during the year.
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