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In its Sixth
In its Sixth Bi-monthly Monetary Policy Statement, RBI expectedly maintained ‘status quo’ on policy rates. Importantly, the neutral stance was also maintained factoring in inflation above the 4% mandate for FY19
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GVA for
GVA for FY19 was projected higher at 7.2% on back of revival of investment activity, resolution of teething problems associated with GST implementation, recapitalization of PSU Banks and NPA resolution.
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Finance
The Finance Minister announced deviation from the fiscal consolidation roadmap pegging fiscal deficit target at 3.5% for FY18 and 3.3% for FY19. Impetus for growth fundamentals has been provided by the Government’s mission to strengthen the rural economy and develop infrastructure.
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India manufacturing PMI
India’s manufacturing PMI grew to 52.4 in January from 54.7 in December as output and new orders widened but at a slower rate.
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India eight core
India’s eight core sector growth declined to 4.0% in Dec-17 compared to 7.4% in Nov-17 due to a sharp fall in steel production growth and contraction in crude oil output.
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