
According to the IMF’s update to its World Economic Outlook, India’s growth in 2016-17 is likely to slow to 6.6% from the previous estimate of 7.6% because of demonetisation, costing it the tag of the world’s fastest growing major economy. The World Bank, meanwhile, pegged India’s 2016-17 growth at 7% last week. And the Central Statistics Office went for 7.1% for the financial year-admittedly using data only through October, before the currency swap move in November.
