Monday, March 25, 2019

Fitch cuts India's growth rate

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Fitch Ratings has cut India’s GDP growth rate projection for the next financial year to 6.8 per cent, from its previous estimate of 7 per cent, on account of weaker-than-expected growth momentum. 

The rating agency says that it has also changed outlook on the Reserve Bank of India’s monetary policy review, projecting another interest rate cut of 25 basis points in 2019 owing to inflation staying below the target and easier global monetary conditions.

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