RBI signals support to PM Modi's Budget to aid growth

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RBI signals support to PM Modi's Budget to aid growth
By Anirban Nag, Bloomberg
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Synopsis

The RBI also upgraded its growth forecasts. It sees growth in the year starting April at 10.5% from an estimated 7.7% contraction in the current fiscal year. That is a tad lower than the government’s 11% estimate and comes amid early signs of a recovery gaining momentum.