RBI chief says to consider advance GDP when framing policy
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)
- Tweet this
- Share this
- Digg this
Wipro posted a 29 percent rise in its fourth-quarter net profit, beating expectations, helped by increased IT spending by its customers. For the quarter ended March 31, the company said it earned 22.27 billion rupees compared with 17.29 billion rupees a year earlier. Full Article | Full Coverage