The Reserve Bank of India (RBI)’s Monetary Policy Committee (MPC) on June 6 cut its Gross Domestic Product (GDP) growth forecast for FY20 to 7 percent from what was previously projected 7.2 percent.
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Softness in Q4FY19 GDP data coupled with subdued early signals from some of the activity indicators in Q1FY20 prompted the RBI to revise its fy20 gdp growth forecast lower to 7% from 7.2% earlier.
Taking into consideration these factors and the impact of recent policy rate cuts, "GDP growth for 2019-20 is revised downwards from 7.2 per cent in the April policy to 7.0 per cent in the range of 6.4-6.7 per cent for H1:2019-20 and 7.2-7.5 per cent for H2 with risks evenly balanced", said the central bank.
In the first bi-monthly monetary policy statement of the current fiscal, the growth rate was projected in the range of 6.8-7.1 per cent for the first half of the financial year and 7.3-7.4 per.
Reserve Bank of India RBI lowers economic growth forecast to 7% for FY20. In the April monetary policy, the growth of Gross Domestic Product (GDP) for 2019-20 was projected at 7.2 percent – in the range of 6.8-7.1 percent for the first half of the fiscal and 7.3-7.4 percent for the second part – with risks evenly balanced.
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The government’s income support scheme for farmers and easing of regulatory policies and benchmark interest rates by the Reserve Bank of India (RBI) could help India’s economic. revised its FY20.
The RBI Thursday lowered the GDP growth forecast for the current fiscal to 7.2 per cent from the earlier estimate of 7.4 per cent amid probability of El Nino effects on monsoon rains and uncertain global economic outlook.
The Reserve Bank of India (RBI) has lowered the economic growth forecast to 7% from 7.2% for the financial year 2019-20 on Thursday.
Read more about rbi lowers fy20 growth forecast to 7% over slowdown in investment activity on Business Standard. In the April monetary policy, the growth of GDP for 2019-20 was projected at 7.2 per cent
Market and economic. (rbi) cut headline interest rates by 25 basis points to 5.75% for third time in just four months, and changed its stance from "neutral" to "accommodative". Furthermore the RBI.
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