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'GDP slowdown temporary, not linked to demonetisation'
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SME Times News Bureau | 08 Sep, 2017
The dip in GDP growth to 5.7 percent in the first quarter of this financial year is "temporary" and not linked to demonetisation, BJP President Amit Shah said in Bhubaneswar on Thursday.
"The demonetisation has not had any negative impact (on economic growth). 'Notebandi' cannot be reason for GDP coming down to 5.7 percent from 7.1 percent," the Bharatiya Janata Party (BJP) President said in response to a query.
"So many quarters have passed since demonetisation. If it was for 'notebandi', the GDP would have fallen on that quarter when demonetisation was announced (October to December 2016),"
He said that this fall in GDP was "temporary" and due to "technical reasons".
"The GDP growth came down because a lot of traders cleared their stocks in advance in order to get input tax credit. This is a technical reason and you will see normal growth from the next quarter itself," he said.
Shah is on a three-day visit to Odisha to galvanise the party workers for the 2019 assembly polls. The BJP has just 10 MLAs in the 147-seat Odisha assembly.
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GDP
Percy | Wed Sep 13 16:00:07 2017
For a good economy fuel and power must be cheap, freedom to work, generate business goods must be taxed at lower rates a healthy exchange rate and local and exports will boom unfortunately the trend in Govt is to make things more complicated , heavily taxed on the contrary Industries which are not competitive must be taxed at very low rates so they dont struggle To revive our economy small towns and villages must be appointed a mayor and town planning put in practice invest in hospitals, schools, fire brigade, small judicial courts, industrial area generate revenue
GDP Slowdown temporary.
Lost Man | Fri Sep 8 17:57:32 2017
Good to know that we have one more highly qualified economist soothsayer. What can be considered temporary? In the seven thousand year old civilization, even hundred years may be considered temporary. But if I have lost half of my core technical business over the last 3 years of misrule, I do not have a chance of a comeback in my finite life span. The loss of jobs is real, endgame for a few of my countrymen, my colleagues and brothers in arms. I want to wish them well, but the real words which accidentally come out of my lips are RIP my friends. Long live the economist soothsayer, the oracle, a twenty first century Nostradamus. i
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