india: India's fiscal year runs from April 1 to March 31, according to Deutsche Welle. The expected drop is attributed to Indian Prime Minister Narendra Modi's demonetization move on November 8. India's economy grew by 7.2 percent in the 2014-2015 fiscal year, and 7.6 percent in 2015-2016. Modi announced the 500 and 1,000 rupee notes about 7 and 15, or 7 and 14 euros, respectively would no longer be legal tender. The estimate is primarily based on data available through October, which means it does not likely show the full impact of demonetization. His move, which was intended to fight tax fraud and corruption, wiped out 86 percent of India's currency and caused disruption for most Indians, who earn and spend in cash.
(news.financializer.com). As
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