RBI lowers FY20 GDP growth forecast to 7% from 7.2%

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.

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.

As per the information released by RBI, CPI inflation is projected at 3.1% for Q2 FY20 and 3.5-3.7%. Policy Committee (MPC) GDP estimate: MPC said in a statement that GDP growth for 2019-20 is.

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India’s economy is expected to grow at 7% in 2019, picking up to 7.2% in 2020, according to the IMF. IMF’s growth revision is in line with the World Bank and RBI, which have also cut India’s GDP.

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.

Also read: RBI’s Monetary Policy Committee lowers GDP growth forecast to 7% from 7.2% for FY20 Also read: Indian economy expected to grow 7.5% in 2020, says G20 surveillance note Tweet Youtube

ADB cuts India’s GDP growth forecast to 7% for FY20 "The growth outlook for India has been cut to 7% in 2019 and 7.2% in 2020 because the fiscal 2018 outturn fell short," ADB said in its.

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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.

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.

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The United Nations (UN) has lowered its forecast for India’s GDP growth in 2019-20 to 7.1% from its estimate in January of 7.5%, citing an overall slowdown in global growth.

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