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RBI sees current year GDP growth at 6-6.5%

The Reserve Bank of India on Thursday said it expected India's gross domestic product to grow at 6-6.5 percent in the current year.

The announcement was part of the RBI's monetary and credit policy for 2001-02 (April-March) prepared against the background of a scandal-hit banking sector and a slowing economy.

"...the impact of slow down in the world economy on India may not be substantial," it said.

"A favourable factor this year is that the international inflationary environment is reasonably benign," the central bank said.

It also said it expected the rate of inflation to be within 5 per cent in the year to March 2002.

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Monetary & Credit Policy 2001-2002 (First Half)

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