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Reserve Bank of India cuts growth estimate to 9.5%


Reserve Bank of India cuts growth estimate to 9.5%
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Reserve Bank of India cuts growth estimate to 9.5%
TNN / Jun 5, 2021, 06:36 IST
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NEW DELHI: The Reserve Bank of India (RBI) on Friday left key policy rates unchanged but slashed its growth estimate for 2021-22 to 9.5% from a projection of 10.5%, citing the impact of the second wave of the pandemic. The central bank, however, raised the inflation estimate a tad higher to 5.1% due to gathering price pressures.
RBI governor Shaktikanta Das said the second wave of Covid is associated with unexpectedly higher rates of morbidity and mortality relative to the first wave. The break out of mutant strains that render the coronavirus highly transmissible across both urban and rural areas has led to fresh restrictions on activity being imposed across a large swath of the country, he said. ....

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