Growth started slowing before demonetisation
10 8 9.13 8.65 5 Mar 2016 Year-on-year growth (in %) Growth at constant prices GDP economy was already weakening before the
Industry has been the worst hit
GVA in both gross domestic product (GDP) and gross from the June 2016 quarter. The fact that growth 5.72 5.55 Jun 2017 Chart 1 shows the depth of the slowdown, with growth value-added (GVA) at constant prices steadily falling started tapering before demonetisation indicates the demonetisation shock hit it. The fall in growth in the June quarter is also on account of the disruption caused by the introduction of the goods and services tax (GST).