Asia Capital Markets Monitor, a study by the Asian Development Bank, says India's economic growth is likely to slow down to 5% for fiscal 2009-10 and to 6.5% in the next fiscal due to declining exports and falling private investments, reports PTI.

The report said that moderate inflation enabled the Reserve Bank of India (RBI) to reverse its earlier tightening stance and follow expansionary credit policies from October last year. The RBI on Tuesday slashed its short-term lending-and-borrowing rates by 25 basis points to encourage growth.

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