RBI lowers 2017-18 growth projection to 6.7 per cent
Wednesday - October 4, 2017 2:54 pm ,
Category : BUSINESS
RBI lowers 2017-18 growth projection to 6.7 per cent
Mumbai Oct 4 (IANS) The Reserve Bank of India (RBI) on Wednesday lowered the country s growth projection for 2017-18 pegging the gross value added (GVA) to fall to 6.3 per cent.
The central bank had earlier estimated India s GVA in 2017-18 to grow at 7.3 per cent.
Taking into account various factors during the fiscal the RBI said: "The projection of real GVA growth for 2017-18 has been revised down to 6.7 per cent from the August 2017 projection of 7.3 per cent with risks evenly balanced."
While announcing its bi-monthly monetary policy review the RBI also kept its key interest rate unchanged at 6 per cent.
--IANS
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