INSUBCONTINENT EXCLUSIVE:
The Indian economy had grown at 6.7 per cent last financial year.
The Reserve Bank today retained growth projections for the current fiscal at 7.4 per cent on hopes of further boost to
investments and higher consumption
The Indian economy had grown at 6.7 per cent last fiscal
In its second bi-monthly monetary policy review for 2018-19, RBI said however that the sharp rise in petroleum product prices is likely to
impact disposable incomes
"Investment activity, in particular, is recovering well and could receive a further boost from swift resolution of distressed sectors of the
economy under the Insolvency and Bankruptcy Code," the monetary policy statement issued by the RBI said
On the basis of an overall assessment, GDP growth for 2018-19 is retained at 7.4 per cent as in the April policy, the RBI said
cent, saying higher oil prices and tighter financial conditions will weigh on the pace of acceleration
there has been some tightening of financing conditions in recent months
Global demand has also been buoyant, which should encourage exports and provide a further thrust to investment
Besides, Consumption, both rural and urban, remains healthy and is expected to strengthen further, the RBI said
inflation outlook considerably," the RBI said
