Mumbai: The Reserve Bank of India (RBI) on Friday said it will unveil the annual credit policy for 2009-10, expected to provide further stimulus to the economy, on 21 April.
Separately, the cash and debt management committee of the government and RBI are likely to meet next week to decide on the government’s market borrowing programme for the first half of 2009-10.
“The date for the meeting has not been finalized but it is likely to take place next week,” a senior finance ministry official said.
—PTI & NewsWire18
India’s growth rests on US growth: Moody’s arm
Mumbai: The possibility of a likely rebound in the Indian economy in the April-June quarter of 2009-10 would hinge on a positive forecast of a US recovery in the quarter ending December, economist Sherman Chan, Moody’s Economy.com, said in a report on Friday.
In the course of a revival in the first quarter, the Indian economy may grow at 5% in the next fiscal year, the report said. The Moody’s arm sees the Indian economy growing at 6.3% in 2008-09.