India's central bank cut its policy rate by 25 basis points to 5.25%, matching forecasts from economists polled by Reuters.
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The PM noted that global growth is currently around 3%, while the G7 countries are growing at only about 1.5% on average.
India's economy grew at its fastest pace in 18 months in the July-September period, lifted by robust consumer spending and front-loading of production ahead of local festivals and punitive U.S.