04-22-2009, 12:56 AM
<b>India Cuts Interest Rates on Slower Growth Estimate </b><!--QuoteBegin-->QUOTE<!--QuoteEBegin-->April 21 (Bloomberg) -- Indiaâs central bank reduced interest rates for the sixth time in as many months to a record low after <b>forecasting the economy will expand at the slowest pace since 2003. </b>
The Reserve Bank of India cut the reverse repurchase rate to 3.25 percent from 3.5 percent, according to a statement in Mumbai today. Economic growth may ease to 6 percent in the year that started April 1 from 7.1 percent in the previous 12 months, the central bank said.
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Congress alway believes in 2 % growth, more poor , more vote.
The Reserve Bank of India cut the reverse repurchase rate to 3.25 percent from 3.5 percent, according to a statement in Mumbai today. Economic growth may ease to 6 percent in the year that started April 1 from 7.1 percent in the previous 12 months, the central bank said.
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Congress alway believes in 2 % growth, more poor , more vote.