Madan Sabnavis: GDP outcome - A vindication of currency purge?

Madan Sabnavis: GDP outcome - A vindication of currency purge?: The way forward is positive -- there are signs volume of currency in the system is picking up...

Excerpts:
"The way forward is positive because there are already signs that the volume of currency in the system is picking up, which means economic activity will mean revert with a hiatus of not more than two quarters i.e., July 2017 onwards. A growth rate of above 7.5 per cent for FY18 cannot be ruled out, if inflation remains under control. Also, such a growth rate will support the projections made in the Union Budget and the revenue targets would be easier to meet.  But in order to ensure that jobs are created, the focus has to be on ensuring that physical production, especially in industry, keeps pace with the growth in value addition. This will probably be the focus of attention in the coming year for the government."

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