India's annual economic growth rate picked up in January-March compared with the previous three months, but economists are increasingly pessimistic about this quarter after a huge second wave of COVID-19 infections hit the country last month.
By Swati Bhat MUMBAI (Reuters) - India s central bank will likely keep interest rates at record lows this week as it assesses the economic fallout of the country s evolving COVID-19 crisis, but the monetary authority is expected to reiterate its commitment on liquidity. The Reserve Bank of India s (RBI) monetary policy committee (MPC) will likely keep the key lending rate or the repo rate unchanged at 4% for a sixth straight meeting when it announces its decision after a three-day meeting on Friday. All 51 economists polled by Reuters expected the MPC to hold rates as Asia s third-largest economy grapples with various state lockdowns.
India's central bank will likely keep interest rates at record lows this week as it assesses the economic fallout of the country's evolving COVID-19 crisis, but the monetary authority is expected to reiterate its commitment on liquidity.
(Adds details)By Rajendra Jadhav and Mayank BhardwajNEW DELHI, June 1 (Reuters) - India is likely to receive normal monsoon rains this year, weather officials said on Tuesday, upgrading a prior forecast and boosting expectations for larger farm output amid a devastating second wave of COVID-19 infections.The monsoon, which is expected to hit the southern coast around Thursday,