CSO to present GDP today

The Central Statistics Offer (CSO) will present India’s Gross Domestic Product (GDP) numbers on Friday for the first quarter of the current financial year. For the previous quarter of FY17, India’s GDP numbers had missed the street estimates and declined to 6.1%.
 
After demonetisation, experts believe that GDP data will be hampered for the next few quarters as the consumption demand of various sectors has been adversely affected. According to street expectations, the GDP is expected to expand to 6.6% in Q1FY18 as compared to the previous year.
 
The GDP would be in focus to watch out for any impact of unified tax regime via the Goods and Services Tax (GST) on the economy. It was estimated that the GST could enhance the country’s gross domestic product by up to 4.2% or Rs 6.5 lakh crore. The growth of Indian economy is driven by increase in domestic and international trade and GST is expected to enhance the international competitiveness of Indian companies.
 
The Reserve Bank of India’s FY17 annual report has revealed that around 99% of the demonetised currency is back in the banking system. This data questions the government’s initial agenda of demonetisation, which was aimed at targeting black money.