The Reserve Bank of India Thursday lowered the economic growth forecast for the current fiscal to 7 per cent due to slowdown in domestic activities and escalation in global trade war.
RBI lowers growth forecast to 7.3% for FY18. Hit hard by demonetisation, India lost the tag of the fastest growing economy to China in the March quarter with a GDP growth of 6.1 per cent, pulling down the 2016-17 expansion to a three-year low of 7.1 per cent.
India’s central bank also cut GDP growth forecast for FY20 from 7.2 per cent to 7 per cent. The Reserve Bank of India(RBI) today cut repo rate for the third consecutive time this year to 5.75 per cent from the current 6 per cent amid falling economic growth and uncertain global scenario.
Fitch Ratings cut India’s FY19 GDP growth forecast to 7.2% from 7.8% on December 6. The rating agency has also cut growth forecasts for FY20 and FY21 to 7% from 7.3% and 7.1 per cent from 7.3%.
Fitch lowers India’s growth forecast to 7.2% for 2018-19 .. We now see GDP growth at 7.2 per cent in the fiscal year ending March 2019 (FY19), followed by 7.0 per cent in FY20 and 7.1 per.
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The 6.9% estimate is a notch lower than 7% growth estimated by the Central Statistics Office (CSO) for the current fiscal. Indian economy grew 7.2 per cent in 2017-18 fiscal. “While we have cut our.
Key details from the RBI statement benchmark repurchase rate cut to 5.75% from 6% GDP growth forecast for fiscal year 2020 cut to 7% from 7.2% CPI forecast for first. amid falling global oil prices.
GDP growth forecast lowered to 7% from 7.2% for FY20 by RBI’s MPC The RBI’s MPC (monetary policy committee) lowered its Gross Domestic Product (GDP) growth forecast to 7% from 7.2% for FY 20 due to a slowdown in domestic activities and escalation in global trade war.
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GDP growth has been revised downwards to 7% from the earlier projection of 7.2%. The MPC expects growth in the range of 6.4-6.7% in the first half of 2019-20 and 7.2-7.5% in the second half.
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.