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Performance of ICRA-assigned credit ratings in FY2020
GoI’s fiscal deficit rose by 21.7% to Rs. 10.4 trillion in April-February FY2020; expenditure would need to be curtailed below the FY2020 RE by Rs. 1.1-1.2 trillion to prevent a fiscal slippage in absolute terms
Sharp reduction in small savings rates for Q1 FY2021, following 75 bps cut in the policy Repo rate, to improve transmission to bank lending rates
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