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

Polluted waters of China

Polluted waters of China

Growing cities, overuse of fertilizers, and factory wastewater have degraded China's water supplies to the extent that half the nation's rivers and lakes are severely polluted.  Slideshow 

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

Top News

REUTERS SHOWCASE

Kerry's India Visit

Kerry's India Visit

Kerry presses India on WTO deal ahead of arrival  Full Article 

Big Infra Deal

Big Infra Deal

Piramal, Dutch APG tie up for $1 bln infra investment  Full Article 

E-Commerce

E-Commerce

Amazon says to invest $2 billion more in India   Full Article 

Lupin Results

Lupin Results

Q1 net profit up 56 percent on higher U.S. drug sales   Full Article 

L&T Slumps

L&T Slumps

L&T earnings raise 'multiple red flags' - Citi  Full Article 

Twitter Results

Twitter Results

Twitter assuages growth concerns for now as shares soar 35 percent  Full Article 

Auto Sector

Auto Sector

VW closes in on Toyota as global auto leader  Full Article 

Fed Meeting

Fed Meeting

Fed seen trimming bond buys, could offer vague rate clues  Full Article 

Gaza Conflict

Gaza Conflict

Israel strikes house of Hamas Gaza leader, digs in for long fight.  Full Article 

Reuters India Mobile

Reuters India Mobile

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