Gross Domestic Product Lowered

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EconomyAug 7, 2019, 5:20 PM IST
Reserve Bank of India lowers GDP projection for 2019-20 from 7% to 6.9%

The Gross Domestic Product (GDP) has been lowered marginally from 7% to 6.9% for the year 2019-20. The Reserve Bank of India has cut the repo rate by an unusual 0.35 percentage points to 5.40% in its third monetary policy review for the current financial year. Repo rate is the rate at which the RBI lends to banks.

Reserve Bank of India lowers GDP projection for 2019-20 from 7% to 6.9%