A panel named by India’s central bank to study its capital structure is likely to identify excess reserves of up to ₹ 3 lakh crore ($43 billion), or 1.5 percent of gross domestic product, according to Bank of America Merrill Lynch.
Weakening of domestic growth impulses and global slowdown prompted RBI Governor Shaktikanta Das to vote for a 25 basis points cut in interest rate announced earlier this month, minutes of the Monetary Policy Committee (MPC) meeting showed on Thursday.
Continuing our practice of the last two years, we analyze the 2019-20 budgets of 20 major states of the Indian economy, which together account for 93% of national GDP and 95% of total spending by all states.
The slowdown in IIP was led by the manufacturing sector, which declined 0.3% YoY. The slowdown was across the board with only 8 out of 23 manufacturing segments in positive territory, down from 11 in the previous month.
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