India's central bank Reserve Bank of India on Monday revised its economic growth forecast to 6.5 per cent for this fiscal. It said, the situation is better than what was perceived in April though the conditions are not enough to fuel a global recovery.
The RBI Professional Forecasters Survey, sponsored by the central bank, had forecast 5.7 per cent economic expansion in April but the June numbers reflect a pick-up in economic activity.
The forecast is part of the macro-economic report by the RBI, which said signs of revival in the global financial conditions seen in first quarter of this financial year are necessary, but are not sufficient to induce a firm global recovery.
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