The campaign comes at a time when the economy is facing headwind and it has slowed to a 5-year low of 6.8 per cent.

India's GDP growth increased from an average of 6.7 per cent during 2010 to 2014 to 7.3 per cent during 2015 to 2019.

India was ranked 142nd among 190 nations when the Narendra Modi's government took office in 2014.

The government has set 7 per cent growth target for the current fiscal and data points of the first quarter are in line with that direction.

If the RBI does cut rates in Oct and early next year it will be the most aggressive amongst major central banks in easing policy.

RBI had said that it will make available the NEFT system on a 24x7 basis from December 2019.

The IHS Markit Services Purchasing Managers’ Index rose to a one year high of 53.8 in July, up from 49.6 in June.

The size of the economy will grow to USD 3 trillion from USD 2.7 trillion in the previous year.

Trade ministry said it remains engaged in talks over the pact, seeking to strike a balance between tariff cuts and domestic sensitivities.

Almost 80 per cent of 66 economists surveyed by Reuters expected the RBI to cut its benchmark repo rate by 25 bps.