In an unexpected move, the Reserve Bank of India today cut its policy rate by 50 basis points to 6.75 percent giving a much-needed push for the faltering growth as inflation is following its projected trajectory.
It has in fact reduced its inflation projection to 5.8 percent for January 2016, from the earlier 6 percent, but growth estimate to 7.4 percent for 2015-16 from 7.6 percent.

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