The economy clocked a faster-than-expected growth of 7 per cent in fiscal third quarter, notwithstanding the demonetization of high-value banknotes in November and the resultant impact on output and well as consumption. Data released by the Central Statistics Office (CSO) on Tuesday showed that the rate of economic growth in the three months ending December slowed marginally from the 7.4 per cent in the preceding quarter. The Statistics office stuck to its last month’s projection that the economy will grow at 7.1 per cent in the year to March, in line with the advance estimate of GDP growth released in January. GDP growth was pegged at 7.9 per cent in the previous financial year.
Source: Indian Express