Business news updates: This is a sharp 1.1 percentage points cut from the growth projection of 8.8 per cent for current year made in May by Moody's.
Announcing the policy review, the RBI said its decision is consistent with the neutral stance of the central bank aimed at achieving its median inflation target of 4%.
The RBI also lowered the economic growth projection to 6.6 per cent for 2017-18 from the previous 67 per cent. It estimated 7.2 per cent growth in the next fiscal.
Vijayawada, Dec 22: RBI Governor D Subbarao today said the economic growth rate for the current fiscal is projected at 7.6 per cent as against earlier projections of 8 per cent.While hoping to tame down
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