Bad news on economic front: GDP rate cut to 6.5%

In the year 2017-18, the country's growth rate will be 6.5 percent. This is much lower than the government's expectations of 7 per cent, as growth was 7.1 per cent in 2016-17.

New Delhi: There is bad news on the economic front for the country. The Central Statistics Office (CSO) has released the GDP forecast of 2017-2018. According to this, the country's growth rate will be 6.5 percent in 2017-18. This is much lower than the government's expectations of 7 per cent, as growth was 7.1 per cent in 2016-17. At the same time, in 2015-16, the pace of development of the country reached 8 percent.

The advance estimates of National Income (for 2017-18) have been released on behalf of the Central Statistics Office (CSO), which has been estimated to be GDP 129.85 lakh crore . In the year 2017-18, the GDP is estimated to be worth Rs 129.85 lakh crore, as per the data released on May 31, 2017, according to data released in the year 2016-17, Rs 121.90 lakh crore was going to happen.

The effect of note-taking and GST was, in
fact, due to the ban on bonding and GST's impact, economic experts were predicting that the country's GDP could see a decline and it could be below 7 per cent. However, considering the upcoming budget, the government can make these estimates even more difficult and it will be difficult for the government to present a populist budget.

Additional loan of 50 thousand crore rupees

Recently, the government has announced an additional borrowing of Rs 50 thousand crore during the current business year i.e. 2017-18. Now there is a risk of a fiscal deficit, which is the loss of government treasury.

However, the international rating agency Fitch, yesterday, has estimated India's GDP growth to be 6.7 percent in the coming 5 years, which will be higher than China's GDP growth.