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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
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.
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.
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.
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.