Bank Interest Ratio to be announced tomorrow (4th October)
Posted on: 03/Oct/2017 11:20:44 AM
The central government has been looking forward to some relief through the Reserve Bank of India to get over the prevalent stagnation and recession in the economy of the country.
The 2 steps of demonetization and implementation of GST have stunted the growth of various industries. As the impact of these 2 measures, the GDP (Gross Domestic Product) of the country has come down to 5.7% in the quarter April-June, which is unprecedented over the last 3 years.
In a parallel development, the prices of vegetables and fruits have shot up leading to an increase in inflation to 3.36% over the last 5 months. In July, the inflation was 2.36%.
With the above negative trends and also to counter the economic stagnation, the central government is looking forward to the assistance from the Reserve Bank of India.
