Assocham wants the government to devise ways to ensure construction of projects does not suffer on account of cash shortage. New Delhi: Arguing that private consumption will take a “significant hit” at least in the next two quarters following demonetisation, Assocham on Sunday said the government should jack up its public expenditure in 2016-17. It wants the government to devise ways to ensure construction of projects does not suffer on account of cash shortage. The private final consumption expenditure (PFCE) accounts for close to 60% of the country’s gross domestic product (GDP) at current prices and 55% at constant prices (base 2011-12), the industry body said. At constant prices, it was estimated at Rs16.26 lakh crore for July-September with the growth of 7.6%, the chamber pointed out.

Source: Mint December 04, 2016 07:04 UTC