DBS Bank revises India GDP forecast for FY20 down to 6.8%
Updated : June 20, 2019 12:05 PM IST
“Growth headwinds swiftly turn attention to the likely policy response. We expect monetary policy to do much of the heavy lifting, given limited fiscal leeway,” the bank in its report on the Indian economy on Thursday.
The Reserve Bank of India's policy stance was changed from neutral to accommodative, opening the door to further easing, wrote Radhika Rao, Economist at DBS Group Research, pointing out the 75 bps repo rate cut so far this year