Short-term trouble from big reforms, but larger gains: FM
Finance Minister Arun Jaitley has said structural reforms like demonetisation and GST can cause temporary disruptions but give out larger gains. "Will demonetisation set back India's GDP by 2%? Answer is no. At worst 7.1% will become 6.7%, and then move up to 7.5%," he added. He further said the economy is now witnessing a phase of consolidation.