The main agenda of this meeting is to discuss measures to revive the economy and push up investments.
India’s economic growth in April-June fell to a six year low of 5 per cent.
The government also announced a slew of measures to boost exports and real estate sector.
ADB maintained India’s 7.2 per cent growth projection for next year.
RBI Governor Shaktikanta Das also reinforced his dovish bias due to weak inflation and negative output gap.
Corporate tax rate cut for companies by almost 10 percentage points to 25.17 per cent.
The GDP growth in the April-June quarter of the 2019- 20 fiscal was 5 per cent, according to government data.
Corporate tax rate cut from 30 pc to 25.2 pc to spur growth- this is a great move which will firmly revive growth and investment.
Governor also welcomed the government announcement in the morning to slash corporate tax across the board.
According to the report, when rise in oil prices are driven more by supply-side factors it is more damaging to large net oil importers.