INSUBCONTINENT EXCLUSIVE:
amid probability of El Nino effects on monsoon rains and uncertain global economic outlook
In its February monetary policy statement, the central bank had projected the GDP growth for 2019-20 at 7.4 per cent -- 7.2-7.4 per cent in
first half of the fiscal (April-September).Since then, there are some signs of domestic investment activity weakening as reflected in a
slowdown in production and imports of capital goods, it said after the three-day meeting of the Monetary Policy Committee (MPC)."The
moderation of growth in the global economy might impact India''s exports," the central bank said.On the positive side, the RBI said, higher
resilient, is also expected to get a fillip from public spending in rural areas and an increase in disposable incomes of households due to
first half of 2019-20 and 7.3-7.4 per cent in the second half - with risks evenly balanced," the RBI said.It added that several
uncertainties cloud the inflation outlook, with the domestic and global demand-supply balance of key food items expected to remain
Shaktikanta Das, noted that the output gap remains negative and the domestic economy is facing headwinds, especially on the global
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