Biz EOD: GDP growth slows down to 4.5%; RBI may cut repo rate; Fiscal deficit of 3.9% realistic, says Uday Kotak
BusinessToday.In November 29, 2019
India's GDP growth rate slowed down to 4.5 per cent in the July-September quarter of this fiscal, as per NSO data released on Friday. Given the fragile condition of the Indian economy, RBI may announce another rate cut in its monetary policy announcement scheduled next week. Uday Kotak, VC and CEO of Kotak Mahindra Bank is comfortable with some deviation in the targeted fiscal deficit from 3.3% of the GDP to 3.5% or 3.9% in the fiscal year 2019-20. Read for more top stories from the world of business and economy:
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