Demonetization led to lower economic growth? GDP down to 6.1 per cent

In the fourth quarter of 2016-17    slowdown is  in the  economy of  India due to demonetization as the  GDP came down to 6.1 percent. Central Statistics Office (CSO) released  data released  show that financial, real estate and professional services grew at 2.2 per cent in January-March 2016-17, down from 9.0 per cent in the same quarter the preceding  year.
The Finance Minister explained that several other factors besides Global situation is responsible for this slow down and as per him the GST will spur growth in economy. He noted that not ban helped the banking sector to resolve the NPA problem.
Its pertinent to recall the observations of renowned economist views given  at the time of announcement of demonetization by PM. The Nobel Laureate and eminent economist Amartya Sen observed that the demonetization will undermine the trust of the entire economy. The claim of the Government to check the money with crooked people is not a sufficient justification. Kaushik Basu a wrote in the New York Times that the justification given for  Demonetization  ie to combat corruption, terrorism financing and inflation are flawed. Among the supporters of the demonetization the World Bank CEO Kristalina Ivanova Georgieva, appreciated the PM and noted that the move have positive impact on economy.
The common still have high hope of development as promised by the Government and at least now the should device schemes that directly benefit him.