GST, bank balance sheet affected India’s growth: UN
The goods and services tax, as well as protracted issues of corporate and bank balance sheet problems, pushed India’s economic growth downward in 2017, but a gradual recovery is expected and the economy is forecast to growth at 7.2% in 2018, according to a un report.
According to estimates in the UN Economic and Social Commission for Asia and the Pacific’s flagship publication Economic and Social Survey of Asia and Pacific, India’s GDP grew at 6.6% in 2017, down from 7.1%. The report said India’s GDP is forecast to grow 7.2% in 2018.
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