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RBI deputy gov says 7-8 pct growth suggests capacity in surplus
A man pulls a hand-drawn cart in front of the Reserve Bank of India (RBI) building in Mumbai January 24, 2012.
Credit: Reuters/Danish Siddiqui/Files
MUMBAI |
MUMBAI (Reuters) - Growth between 7 percent and 8 percent suggests India is entering a phase of surplus capacity, with inflation expected to come down, said Subir Gokarn, a deputy governor at the Reserve Bank of India.
Gokarn was speaking at a panel discussion at a book launch event organised by Asia Society.
India's economy grew 6.1 percent in the three months to December, the slowest pace in almost three years.
The wholesale price index, the country's main gauge of inflation, rose 6.55 percent in January from a year earlier, its slowest rise since November 2009.
(Reporting by Suvashree Dey Choudhury; Editing by Rajesh Pandathil)
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