According to government data, India's economy grew a much slower-than-expected 5.7 percent in the three months through June from a year earlier, down from a provisional 6.1 percent.Some experts views upon demonization, which still hiting on real estate and Pvt sector.
Anjali Verma, of PhilipCapital India, says, that The impact of demonetization has faded, definitely. But the next quarter impact will be of GST (goods and services tax), which will have an adverse impact on growth overall.
I would expect GDP for the full year will be somewhere closer to 6 percent. We don’t expect any rate cuts from here on. RBI will stay hooked on to inflation.
Abheek Barua, Chief Economist says, that GDP numbers are certainly disappointing. The numbers seem to suggest that the slowdown from last quarter has intensified due to the combination of long-term slowdown and temporary shock factors like demonetization and GST (goods and services tax) destocking.