The Monetary Policy Committee held policy rates steady. The Reserve Bank of India cut growth estimates and raised inflation projections. Gross Value Added is estimated to grow at 6.7 per cent for 2017-18, a downgrade from the earlier 7.3 per cent estimate. Consumer inflation is expected to run at 4.2-4.6 per cent in the second half (October 2017-March 2018).
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First Published: Sun, October 15 2017. 22:39 IST