The huge drop in GDP, Decreased from 7.9% to 5.7%

GDP Of India

GDP figures have also come out after a day, the release of the figures of Demonetisation from the Reserve Bank of India. GDP growth at 5.7% in the quarter ended in the first quarter of 2017-18 i.e. June 30. This is a major drop in GDP. On the basis of year-on-year basis, GDP growth was 7.9% in the April-June 2016 quarter of the previous year. This fall in the GDP is a major drop, which is being directly linked to the Demonetisation.

According to the figures released on the RBI website, 8.9 million notes out of a total of 670 million notes of Rs. 1000 have not been returned. Out of 15.44 lakh crore, rupees 15.28 lakh crore has returned to the RBI. In this way about 99 percent of the rupees have come back.

In this way, the attempt to bring out the black money of the Modi government has not been able to show some extraordinary results by the ban of 500 and 1000 notes, but it has caused a lot of trouble for the people.

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