India's GDP in fiscal year 20 16-20 17 is expected to increase by 7. 1% The latest report released by the Ministry of Statistics and Planning of India predicts that the country's gross domestic product (GDP) will increase by 7% by the end of March. 1%, ranking in the forefront of the global economy. ? The report pointed out that India's mining output is expected to decline 1 this fiscal year. 8%, manufacturing output will increase by 7. 4%, the service industry output will increase by 6%, lower than last fiscal year. But agricultural output is expected to increase by 4. 65,438+0%, exceeding the previous fiscal year's 65,438+0. 2%。 Analysts pointed out that if India's GDP growth this fiscal year meets this expectation, it will be one of the fastest growing countries in the world. However, its economic growth this fiscal year may be lower than the government's expectation, because this forecast is mainly based on the data collected before the Indian government issued the "Banknote Waste Order". Last year, on1October 8, 165438, the Indian government ordered the abolition of banknotes with a face value of 500 rupees and 1000 rupees, equivalent to 86% of all currencies in circulation in India. This has caused a serious cash shortage, affected payments from factories to agricultural supply chains, and disrupted economic activities. Later, some economists lowered their forecasts for India's economic growth this fiscal year, from 7. About 5% dropped to 6. 5%—7%。