Economy Of India Will Take Rs 4.7 Lakh Cr Hit Due To Demonetisation: Amit Mitra

Claiming demonetisation " A Major Magnum-Sized Tsunami ", West Bengal Finance Minister Amit Mitra on Thursday said India's ...

Amit Mitra

Claiming demonetisation "A Major Magnum-Sized Tsunami", West Bengal Finance Minister Amit Mitra on Thursday said India's GDP in the current monetary (2016-17) will take a colossal hit by virtue of demonestisation.

Mitra told India Today news channel that In the most ideal situation, the GDP for the current financial could go down to 5.5 % from the 7.5 % it had touched in 2015-16.

He further added that From a gauge that he have, the development rate in total will fall more than 3 for every penny and land at 4.3 for each penny.

He moved ahead and said This implies lost Rs 4.7 lakh crore of GDP, this will be quenched. This is in the most dire outcome imaginable… the most ideal situation is loss of Rs 3 lakh crore.

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