India still continues to be the fastest growing economy and demonetization has had no effect on the Indian economy, Finance Minister Nirmala Sitharaman told the Rajya Sabha on July 2.
The Minister was responding to the supplementary during the Question Hour, she has also asserted that it had no effect on the Indian Economy.
The information was asserted on Rajya Sabha on July 2.
Ms. Sitharaman said “the moderation in growth momentum in 2018-19 is primarily on account of lower growth in ‘Agriculture and allied’, ‘trade, hotel, transport, storage, communication and services related to broadcasting’ and ‘public administration and defense’ sectors.”
“If the impact of low growth in certain sectors has impacted growth rate, particularly in agriculture and allied activities as also in financial and real estate and professional services, there has been a fall, particularly in agriculture based on third advance estimates, it is believed that there has been a 0.6% decline in the output, she in-turn added.
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