MUMBAI (Reuters) -The Indian government’s domestic tax reductions and the Reserve Bank of India’s interest rate cuts this year will help boost private investment and economic growth, the central bank said in its monthly bulletin on Monday.

In October, the Indian economy exhibited signs of pickup in growth momentum despite persisting global headwinds, the central bank said.

“Available high-frequency indicators for October suggest a robust expansion in both manufacturing and services activities, supported by festive season demand and the ongoing positive impact of the goods and services tax reforms,” the central bank said.

India cut taxes on hundreds of consumer items ranging from soaps to small cars in September to spur domestic demand in the face of economic headwinds from punishing U.S

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