The Reserve Bank of India (RBI), India’s central bank, lowered its growth expectation for the India economy to 7 percent according to Bloomberg.
The India economic news comes despite the Reserve Bank of India’s (RBI) recent decision to hold interest rates that would have otherwise helped spur the India economy.
The new India economic growth forecast by India’s central bank is down from its initial target of 8 percent for 2009 and is primarily driven by the current global economic crisis.
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