The Indian economy lost steam in the April-June quarter, slowing to a threeyear low as the impact of destocking by companies ahead of the rollout of the Goods & Services Tax (GST) and lingering effects of demonetisation hurt growth. Data released by the Central Statistics Office (CSO) on Thursday showed the economy grew 5.7% in April-June, the first quarter of the current fiscal year, slower than the pre vious quarter's 6.1% growth and lower than the 7.9% expansion posted in the first quarter of 2016-17.
The Indian economy lost steam in the April-June quarter, slowing to a threeyear low as the impact of destocking by companies ahead of the rollout of the Goods & Services Tax (GST) and lingering effects of demonetisation hurt growth. Data released by the Central Statistics Office (CSO) on Thursday showed the economy grew 5.7% in April-June, the first quarter of the current fiscal year, slower than the pre vious quarter's 6.1% growth and lower than the 7.9% expansion posted in the first quarter of 2016-17.
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