S&P retains India's GDP growth forecast at 6.5% on strong domestic demand

S&P Global Ratings on Tuesday retained India's GDP growth forecast at 6.5 per cent in the current fiscal, citing strong domestic demand amid a largely benign monsoon, media reports stated. S&P also reportedly said it expects a 25 bps rate cut by the RBI this fiscal as it revised its inflation forecast down to 3.2 per cent for this fiscal year. India's GDP grew at 7.8 per cent in the April-June quarter.

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