8  BIS central bankers’ speeches  Section 3 Economic growth in NER •  Net State Domestic Product (NSDP) is generally considered as a reliable indicator of the performance of the states. The consolidated NSDP (at current prices) of eight NE states stood at Rs.2093 billion during 2012–13.
The combination of lower inflation and lower growth suggests, at least to some, that the time has come for rate cuts. The MPC will meet in late July to consider how the outlook has changed, and we will make the appropriate decision at that time. We are not here for me to give interesting hints about the next repo rate decision.