NEW DELHI, April 4 (Xinhua) -- India's central banking institution Reserve Bank of India (RBI) Thursday said it was lowering the GDP growth projection for the financial year 2019-2020 at 7.2 percent against the previously projected of 7.4 percent.
"GDP growth for 2019-20 in the February policy was projected at 7.4 percent in the range of 7.2-7.4 percent in H1, and 7.5 percent in Q3 with risks evenly balanced. Since then, there are some signs of domestic investment activity weakening as reflected in a slowdown in production and imports of capital goods. The moderation of growth in the global economy might impact India's exports," RBI in its first bi-monthly monetary policy statement said.
"Taking into consideration the above factors, GDP growth for 2019-20 is projected at 7.2 percent in the range of 6.8-7.1 percent in H1, and at 7.3-7.4 percent in H2 with risks evenly balanced."
