Ranen Banerjee, Partner with PwC India, said the Indian economy is still experiencing slow down in the services sector such as finance, transport and hotels that grew at 5.7% in September quarter against 6.4% in the previous quarter. “The possible causes could be the larger working capital requirements faced by services sector (especially export oriented ones) and teething process issues post GST implemention. We also possibly need to examine whether the three percentage point increase in tax rate on services to 18% under GST regime causing some demand side impacts. We will need to wait for thrid and fourth quarter GDP numbers to be able to comment on this more conclusively," he added.