RBI signals lower economic growth
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26/10/2004
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Business Line (New Delhi)
The coming months may see rising commodity prices and lower economic growth if the signals in the RBI's Mid-Term Review of the Annual Policy Statement are anything to go by. The RBI Governor, Dr Y.V. Reddy, scaled down the GDP growth projection for the current fiscal to between 6 and 6.50 per cent as against the previous forecast of 6.5 -7 per cent. The central bank has marked up the inflation estimate to 6.5 per cent, against the previous estimate of 5 per cent.