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

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.

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Read more about Fitch lowers India’s FY20 growth forecast for a 2nd time on Business Standard. Fitch Monday cut India’s growth forecast for the current fiscal for a second time in a row to 6.6 per cent as manufacturing and agriculture sectors showed signs of slowing down over the past year.The global rating agency had earlier in March

Earlier in April this year too, the Manila-based multi-lateral funding agency had lowered India’s growth forecast for FY20 to 7.2% from 7.6% estimated previously due to moderation in global.

RBI projects 7.4% GDP growth for FY20. February 7, 2019 Shining India Business 0 Mumbai: The Reserve Bank of India Thursday projected an economic growth rate of 7.4 percent for the next fiscal, up from 7.2 percent estimated for the current fiscal by central statistics office (cso).

Turning to the growth outlook, RBI has projected the GDP growth for 2018-19 in the December policy at 7.4% (7.2-7.3% in H2) and at 7.5% for H1FY20, with.

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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.

RBI policy full text: FY20 GDP growth lowered to 7.2% from 7.4% earlier; CPI target revised downward to 2.4% The MPC also decided to maintain the neutral monetary policy stance.

Indian economy grew 6.7 per cent in 2017-18 fiscal. The 7.2 per cent GDP growth for current fiscal is substantially lower than 7.8 per cent and 7.4 per cent projections made by Fitch in September and June respectively. It is also lower than RBI’s 7.4 per cent growth estimates for this fiscal.

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The 6.9% estimate is a notch lower than 7% growth estimated by the Central Statistics Office (CSO) for the current fiscal. indian economy grew 7.2 per cent in 2017-18 fiscal.

Amid concerns of a slow down in the economy, the central bank lowered its gross domestic product (GDP) forecast to 7 per cent for the current fiscal from 7.2 per cent projected earlier.