Wait...

Online Export Import Data Search

Recent Searches: No Recent Searches
Complete Training Video : Click Here

RBI lowers GDP growth forecast to 7.2% for 2019-20.


Date: 05-04-2019
Subject: RBI lowers GDP growth forecast to 7.2% for 2019-20
The RBI Thursday lowered the GDP growth forecast for the current fiscal to 7.2 per cent from the earlier estimate of 7.4 per cent amid probability of El Nino effects on monsoon rains and uncertain global economic outlook. 

In its February monetary policy statement, the central bank had projected the GDP growth for 2019-20 at 7.4 per cent -- 7.2-7.4 per cent in first half of the fiscal (April-September). 

Since then, there are some signs of domestic investment activity weakening as reflected in a slowdown in production and imports of capital goods, it said after the three-day meeting of the Monetary Policy Committee (MPC).

"The moderation of growth in the global economy might impact India's exports," the central bank said. 

On the positive side, the RBI said, higher financial flows to the commercial sector augur well for economic activity. 

It further said private consumption, which has remained resilient, is also expected to get a fillip from public spending in rural areas and an increase in disposable incomes of households due to tax benefits. Business expectations continue to be optimistic. 

"GDP growth for 2019-20 is projected at 7.2 per cent – in the range of 6.8-7.1 per cent in first half of 2019-20 and 7.3-7.4 per cent in the second half – with risks evenly balanced," the RBI said. 

It added that several uncertainties cloud the inflation outlook, with the domestic and global demand-supply balance of key food items expected to remain favourable. 

However, early reports suggest some probability of El Nino effects in 2019, it added. 

The MPC, headed by RBI Governor Shaktikanta Das, noted that the output gap remains negative and the domestic economy is facing headwinds, especially on the global front.

The need is to strengthen domestic growth impulses by spurring private investment which has remained sluggish, the RBI added. 

Source: economictimes.indiatimes.com

Get Sample Now

Which service(s) are you interested in?
 Export Data
 Import Data
 Both
 Buyers
 Suppliers
 Both
OR
 Exim Help
+


What is New?

Date: 01-12-2020
Notification No. 42/2020 -Customs (ADD)
Seeks to amend notification No. 21/2016-Customs (ADD) dated 31st May, 2016 to extend the levy of Anti-Dumping duty on Methylene chloride originating in or exported from China PR, up to and inclusive of 31st Jan, 2021.

Date: 01-12-2020
Notification No. 90/2020 – Central Tax
Seeks to make amendment to Notification no. 12/2017- Central Tax dated 28.06.2017.

Date: 29-11-2020
Notification No. 89/2020 – Central Tax
Seeks to waive penalty payable for noncompliance of the provisions of notification No.14/2020 – Central Tax, dated the 21st March, 2020.

Date: 27-11-2020
Notification No. 109/2020-CUSTOMS (N.T.)
Tariff Notification in respect of Fixation of Tariff Value of Edible Oils, Brass Scrap, Poppy Seeds, Areca Nut, Gold and Silver- Reg

Date: 27-11-2020
Circular No. 52/2020-Customs
Exports of Gems and Jewellery through Courier mode - reg.

Date: 27-11-2020
Notification No. 40/2020-Customs (ADD)
Seeks to impose Anti-Dumping duty on Fluoroelastomers (FKM) originating in or exported from China PR for a period of 5 years, in pursuance of sunset review final findings issued by DGTR

Date: 27-11-2020
Notification No. 41/2020 -Customs (ADD)
Seeks to further amend notification No. 49/2015-Customs (ADD), dated 21st October, 2015 to extend the levy of ADD on imports of “Front Axle Beam and Steering Knuckles meant for heavy and medium commercial vehicles” originating in or exported from China PR, for a period upto and inclusive of the January 31, 2021

Date: 26-11-2020
Notification No. 43/2020-Customs
Seeks to further amend notification No. 50/2017-Customs dated 30th June, 2017 so as to prescribe BCD rate of 27.5% on Crude Palm Oil

Date: 26-11-2020
Notification No. 39/2020-Customs (ADD)
Seeks to amend notification No. 51/2015-Customs (ADD), dated 21st October, 2015 to extend the levy of ADD on imports of "Fully Drawn or Fully Oriented Yarn/Spin Drawn Yarn/Flat Yarn of Polyester " originating in or exported from China PR & Thailand , for a further period upto and inclusive of 31st December, 2020

Date: 26-11-2020
Public Notice No. 30/2015-20
Revision of SION A1827 of Export Products - Ossein



Exim Guru Copyright © 1999-2020 Exim Guru. All Rights Reserved.
The information presented on the site is believed to be accurate. However, InfodriveIndia takes no legal responsibilities for the validity of the information.
Please read our Terms of Use and Privacy Policy before you use this Export Import Data Directory.

EximGuru.com

C/o InfodriveIndia Pvt Ltd
F-19, Pocket F, Okhla Phase-I
Okhla Industrial Area
New Delhi - 110020, India
Phone : 011 - 40703001