India to be favourably impacted by US Fed rate cut: DEA Secy Seth

US Federal Reserve's decision to cut interest rates is expected to have favourable impact on global as well as Indian economy, said Department of Economic Affairs (DEA) Secretary Ajay Seth. Fed slashed interest rates by 50 bps from 23-year-high range. "It's 50 bps cut from high level...I don't see that making any significant impact on inflows into India," Seth added.