Government Forecasts Economic Growth At 3-Year-Low Even Without Notes Ban

India forecasts its growth will slow to a three-year low even before the effects of Prime Minister Narendra Modi's cash clampdown start to show. Gross domestic product will grow 7.1 percent in the year through March, the Statistics Ministry said in a statement on Friday. However, the numbers don't consider data from November onward, when PM Modi shocked the nation by banning high-value bank notes, Chief Statistician TCA Anant said at a subsequent briefing in New Delhi.
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