Growth rate of India's Gross Domestic Product (GDP) has come down to 7.1 percent in 2016-17. This figure was 7.9% in 2015-16.

The concern is that despite the good performance of the agriculture sector, the growth rate has come down.

The Modi government had announced the closure of 500 and 1,000 notes on November 8. In this work of change, 87 percent of cash was out of use.

The growth rate in the January-March quarter after the ban was reduced to 6.1 percent. The ban was made on November 9, 2016.

Based on the new series based on the base year 2011-12, the GDP growth rate in 2015-16 is 8 percent.

According to the old series it was 7.9 percent.

According to the statistics of Central Statistics Office (CSO), the Gross Value Addition (GVA) came down to 6.6 percent in the financial year ending March 31, which was 7.9 percent in 2015-16.

In the third and fourth quarter of 2016-17, the GVA has been affected by the note ban. During these quarters, it came down to 6.7 percent and 5.6 percent, respectively, from 7.3 and 8.7 percent in the same quarter of the previous financial year.

After Note ban declined in all sectors except agriculture.

The growth in the manufacturing sector declined to 5.3 percent in the fourth quarter, from 12.7 percent in the same quarter a year ago.

The growth rate of the construction sector was negative.

Agricultural sector has benefitted due to better monsoon.

In the year 2016-17, the agricultural sector grew by 4.9 percent, from 0.7 percent in the previous fiscal year. The GVA of agriculture sector grew by 5.2 percent in the fourth quarter, while it grew by 1.5 percent in the same quarter of 2015-16.

According to the data, the per capita income in 2016-17 is expected to reach Rs 1,03,219. It was Rs 94,130 in 2015-16.

If this happens then the per capita income will increase by 9.7 percent. In 2015-16, there was an increase of 7.4% per capita income in the country. Per capita income is the indicator of prosperity in the country.

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