World Bank cuts India's growth forecast to 7% post note ban
The World Bank on Wednesday decelerated India's GDP growth forecast for FY 2016-17 to 7% from its previous estimate of 7.6% due to demonetisation. "The challenges encountered in phasing out large currency notes and replacing them with new ones may pose risks to the pace of other economic reforms (eg Goods and Services Tax, labour, and land reforms)," it said.