New Delhi : Demonetisation has stymied India’s GDP growth and the October-December quarter show is likely to be around 6 per cent, while for January-March it could climb down to 5.7 per cent, forecasts a Nomura report.
According to the Japanese financial services major, the consumption and services, which were the fastest growing segments pre-demonetisation, were the worst-hit. However a V shaped recovery is expected from the second half of 2017, it said. “We expect GDP growth to slow from 7.3 per cent year-on-year in July-September 2016 to 6.0 per cent in October-December 2016 and 5.7 per cent in January-March 2017,” Nomura said.
