RBI Projects Economic Growth At 7.4% In 2019-20

The projection for the coming financial year stood at the same level as the RBI's December estimate for the current financial year. The growth projection for the financial year beginning April 1, 2019 came as the RBI announced a 25-basis-point reduction in repo rate - the key interest rate at which it lends short-term funds to commercial banks. That marked the first reduction in the repo rate since August 2017. Since the December...