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Demonetisation to pull down India GDP growth rate to 6%: IMF

Demonetisation to pull down India GDP growth rate to 6%: IMF

Thursday, February 23, 2017, 9:19 AM

Government’s demonetization drive may have a larger negative impact on the Indian economy in the short run through weaker private consumption, but will likely deliver positive benefits in the medium-term by stopping tax evasion, the International Monetary Fund said. IMF sees India GDP growth rate slowing to about 6% in the second half of 2016-17 due to demonetization impact, before gradually bouncing back.
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