Recent stimulus measures announced by the Indian government will be insufficient...
BENGALURU - Recent stimulus measures announced by the Indian government will be insufficient to boost economic growth significantly, said a majority of economists in a Reuters poll who predicted two more interest rate cuts this year, in October and December.
That along with other measures, including a rollback of a higher surcharge on foreign portfolio investment - introduced in the budget in July - led international investors to become net buyers of Indian assets in September. Although the economy is expected to have recovered last quarter from the sharp slowdown in the three months prior, economists downgraded their growth outlook for this fiscal year and next from three months ago.
But some economists argued recent measures announced by the Indian government, along with monetary policy easing, would likely boost Asia’s third-largest economy.It is now expected to cut its repo rate INREPO=ECI by 25 basis points on Friday, making it the fifth meeting in a row of easing, and is then predicted to follow that up by with another 15 basis points slice in December, taking the key rate to 5.0%.
The outlook for further policy easing was also backed by subdued inflation, which is not expected to breach the central bank’s medium-term target of 4% until the fourth quarter of 2020.
United States Latest News, United States Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Floods kill 113 in north India in late monsoon burst, jail, hospital submergedHeavy rains have killed at least 113 people in India's Uttar Pradesh and Bi...
Read more »
At least 100 die in India monsoon rainsHeavy rains have killed at least 100 people in India's Uttar Pradesh and Bihar states triggering floods and forcing people to flee. With more rain predicted, weather experts say September could end as the wettest in more than a hundred years.
Read more »
Drake Letting Sacramento Kings Use His Plane for Games in IndiaDrake's $200 million Boeing jet is already going to good use in the NBA.
Read more »
More than 100 killed in India due to heavy rainsHeavy rains have killed more than 100 people in India's central Uttar Pradesh and Bihar states over the past three days, officials say, as floodwaters submerge major cities.
Read more »
Pakistan's Kashmir president says there's now 'a state of war' with India, warns nuclear fight would change the world'Any military exchange will not remain limited, it can and we fear it would escalate to the nuclear level, that is tantamount to nuclear armageddon,' Azad Kashmir President Masood Khan tells Newsweek.
Read more »