RBI chief says to consider advance GDP when framing policy

GUWAHATI Thu Feb 7, 2013 1:19pm IST

Duvvuri Subbarao, governor of the Reserve Bank of India, speaks during ''The Citi Series on Asian Business Leaders'' at the Asia Society in New York, August 29, 2012. REUTERS/Andrew Burton/Files

Duvvuri Subbarao, governor of the Reserve Bank of India, speaks during ''The Citi Series on Asian Business Leaders'' at the Asia Society in New York, August 29, 2012.

Credit: Reuters/Andrew Burton/Files

Related Topics

GUWAHATI (Reuters) - Reserve Bank of India Governor Duvvuri Subbarao said the central bank will take Thursday's advance numbers for fiscal year economic growth into account while framing monetary policy for its next review in March.

India's gross domestic product (GDP) is estimated to grow an annual 5.0 percent in the 2012/13 fiscal year, the government said on Thursday, signalling that the worst economic slump in a decade could be far deeper than earlier anticipated.

The RBI had revised the economy's growth to 5.5 percent for the financial year ending in March from its previous estimate of 5.8 percent.

The central bank governor also said he is looking forward to the upcoming budget for the fiscal 2013/14 year to get a better sense of the government's fiscal consolidation plans.

(Reporting by Shamik Paul; Editing by Rafael Nam)

FILED UNDER:
Comments (0)
This discussion is now closed. We welcome comments on our articles for a limited period after their publication.

  • Most Popular
  • Most Shared

Healthcare Corruption

REUTERS SHOWCASE

Short of Expectations

Short of Expectations

Apple revenue lags Street's view despite strong China growth  Full Article 

Mircosoft Results

Mircosoft Results

Microsoft revenue rises, profit falls as Nokia absorbed  Full Article 

Deal Talk

Deal Talk

Exclusive - Lupin, U.S. firms weigh bids for GSK's mature drugs: sources  Full Article 

Relief For Sahara

Relief For Sahara

Supreme Court could allow Sahara boss to conduct asset sale talks, company says.  Full Article 

Classifying Banks

Classifying Banks

RBI to start announcing too-big-to-fail banks in Aug 2015  Full Article 

Food Scandal

Food Scandal

Starbucks, Burger King dragged in as China food scandal spreads.  Full Article 

Reuters India Mobile

Reuters India Mobile

Get the latest news on the go. Visit Reuters India on your mobile device.  Full Coverage