GDP To Fall Post-Demonetisation, Follow-Up Reforms Key: HSBC

New Delhi: India's economic growth is expected to fall by up to 1 percentage points over the next 12 months in the wake of demonetisation, while longer-term gains will depend on follow-up reforms, says an HSBC report. According to the global financial services major, in the short run, India's drive to withdraw and replace high-denomination currency notes will bring 'some benefits, some losses'. "Using the cash elasticity of GDP, we...