The central bank also raised its inflation forecast for the year ending March to 6.7% from 5.7% seen previously. The RBI targets inflation between 2%-6%.
Sitharaman, who is only the second woman defence minister in India's history, is expected to work closely with the Finance Minister to take key industry-related decisions
Modi govt's thrust on manufacturing is much-needed but it is pushing Indian manufacturing in the direction of outsourcing, same as our services industry.