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Business News/ Politics / Policy/  RBI to consider advance GDP figures when framing monetary policy
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RBI to consider advance GDP figures when framing monetary policy

RBI governor D. Subbarao says he looks forward to the Union budget to get a sense of govt’s fiscal consolidation plans

RBI had revised the economy’s growth to 5.5% for the financial year ending in March from its previous estimate of 5.8%. Photo: Abhijit Bhatlekar/Mint (Abhijit Bhatlekar/Mint)Premium
RBI had revised the economy’s growth to 5.5% for the financial year ending in March from its previous estimate of 5.8%. Photo: Abhijit Bhatlekar/Mint (Abhijit Bhatlekar/Mint)

India’s gross domestic product (GDP) is estimated to grow an annual 5% 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.

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

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

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Published: 07 Feb 2013, 01:28 PM IST
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