The Planning Commission said the GDP growth rate would be a shade lower at seven per cent against nine per cent in 2007-08, even though RBI estimated India''s economy to grow at 7.5-8 per cent in the current fiscal.
However, he expected that inflation, which came down to 8.9 per cent, would decline further giving RBI a scope to go for softening interest rates to spur growth. RBI has injected around Rs 2,75,000 crore into the system through cuts in reserve ratios and policy rate, Repo, but there is demand for more money supply by the corporates.
However, he expected that inflation, which came down to 8.9 per cent, would decline further giving RBI a scope to go for softening interest rates to spur growth. RBI has injected around Rs 2,75,000 crore into the system through cuts in reserve ratios and policy rate, Repo, but there is demand for more money supply by the corporates.
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