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The revision comes a day after global financial services firm Morgan Stanley on Wednesday revised India’s GDP growth forecast upward.
The risks to the growth outlook remain evenly balanced, amidst an improving outlook for cross-country trade deals.
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However, RBI revised the GDP growth projection for the current fiscal sharply downward to 6.6% from the earlier estimate of 7.2%.
The electorate's disenchantment over price rise, unemployment and slow growth in salary income combined with the pull of coalition politics could determine the course of this government's financial plan.
Reserve Bank of India revised upwards the GDP growth to 7.2%
Commenting on the growth numbers, Prime Minister Narendra Modi said his government will continue to make efforts to keep fast economic growth.
In a world beset by economic volatility, India has managed to stay the course of high growth and succeeded in moderating inflation.
Gross domestic product, or GDP, growth of 7.6 per cent beat most estimates, including 6.5 per cent projected by the Reserve Bank of India (RBI).
According to SBI Research, a good portion of the drawdown from savings have gone to physical assets.
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