RBI lowers FY20 GDP growth forecast to 7% from 7.2%
ALSO READ:RBI’s Monetary Policy Committee lowers GDP growth forecast to 7% from 7.2% for FY20 The retail inflation in April 2019 was revised upwards to 2.99 per cent from the earlier 2.92 per cent.
Markets were disappointed despite the much-anticipated rate cut because of RBI’s negative prognosis in respect of the economy. das cut the growth forecast for FY19 from 7.4% to 7.2% citing global.
"We revise down our real gdp forecast for FY20 to 6.8% year-on-year versus 7% earlier. slowing growth and sub-target inflation, the need to hanker over a wide real rate buffer has reduced," said.
The Central Statistics Office (CSO) on Thursday also revised downward its full-year growth forecast for the current fiscal year to 7% from the 7.2% estimated earlier. said the lower growth in GDP.
Read also RBI lowers GDP growth forecast to 7.2% for 2019-20 Raghuram Rajan raises doubts about. albeit slowly (to 6.2 and 6.0 per cent of GDP in FY19/20 and FY20/21 respectively). As the center’s.
India GDP growth seen at 7.3% in 2019-20 and 7.5% in 2020-21, 20 basis points lower than earlier IMF estimates.continued economic reforms, with efforts to reduce public debt, is essential to. RBI lowers growth forecast to 7.3% for FY18.
India expects economic. s growth means for jobs creation The forecast marks an improvement from the 6.8% expansion last.
Prime News, National, Business, Mumbai, June 6:- 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. In the April monetary policy, the growth of Gross Domestic Product (GDP) for 2019-20 was projected at 7.2.
The IMF’s FY20 growth forecast for India is lower than the World Bank’s (7.5 per cent) and the Asian Development Bank’s (7.2 per cent). However, at 7.1 per cent, IMF’s estimate of the country’s growth in 2018-19 was even 10 bps higher than the second advance estimate by the Central Statistics Office.
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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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