The Indian Gross Domestic Product or GDP, which marks a measure of growth for the economy slumped to 5.7 percent in April-June, sharply lower than last year's 7.9 percent expansion in the same quarter. It was also slower than the 6.1 percent growth in January-March.
The GDP numbers now show that growth has slowed largely on account of Demonetization and the implemenation of the Goods and Services Tax. Data released on Thursday by the Central Statistics Office (CSO) showed that the nations "real" or inflation-adjusted GDP growth is nowhere close to returning to the 8 percent growth, that was seen in 2015-16.
Today's GDP estimates means that India is now behind China, and it would take some catching-up to do for the nation to bounce back. Indian stock markets may open lower given the weakish set of GDP numbers.