Days after the International Monetary Fund downgraded India's growth forecast for the current fiscal year (2016-17) by one per cent, the Indian government's policy think tank, NITI Aayog, has termed such forecast as premature. In an exclusive interview with NDTV, Bibek Debroy, economist and member of NITI Aayog, said, "I have several layers of responses. First, if you average out, it is still above 7 per cent. The more important point, though, is that there is a difference between economic activity contracting and an estimate that's based on GDP or more accurately gross value added."
