Ambit Capital Slashes FY17 GDP Growth Estimate To 3.5%
People stand in line to exchange Indian five hundred and one thousand rupee banknotes outside the Reserve Bank of India (RBI) headquarters in New Delhi. (Photographer: Anindito Mukherjee/Bloomberg)

Ambit Capital Slashes FY17 GDP Growth Estimate To 3.5%

The government’s demonetisation-driven cash crunch has prompted brokerage house Ambit Capital to cut its GDP growth estimate by 330 basis points to 3.5 percent.
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