According to Assocham, industry and commerce organization, India's economic growth rate can be cut by seven percent in 2018, due to the cancellation and impact of GST.  

According to the 'Scenario' for 2018 from Assocham, before the Lok Sabha elections, government policies will turn towards rural areas and the economy will be able to reach the rate of seven percent crossing the impact of garnering and GST.   

"In the second half of 2017-2018, despite the 6.3 percent increase in GDP, the economic growth will touch a significant rate of 7 percent by the end of the September quarter of 2018, while monsoon next year with the lightness of the second half, the inflation rate will remain between 4.5 to 5 percent. " 

Assocham President Sandeep Jajodia said that this estimate has been based on government policies a good monsoon, accelerated industrial activity and credit growth as well as on the basis of stability in foreign exchange rates. He said, "If there is no major reshuffle in the political scenario, then worrying about the rising prices of crude oil can be reduced." 

According to Assocham, political elections are going to be held in many states, in view of which political economy can lean towards agriculture, where stress is being seen for some time. Assocham feels that the upcoming central budget will be tilted towards the farmers.

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