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August 8, 2001
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Money > Reuters > Report August 8, 2001 |
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Jalan says GDP to grow 6-6.5% in 2001-02
"As of now, yes," Jalan said when asked whether the RBI was sticking to its earlier GDP growth forecast. The RBI had in April forecast gross domestic product could grow by 6.0-6.5 per cent in the current year, compared to an expected GDP growth of 6.0 per cent in 2000-01 -- down from 6.4 per cent and 6.6 per cent in the two previous years. Jalan said interest rates were "pretty reasonable right now." He said: "It's (interest rates) been softening over a period of time. So we still have a softening bias. The softening bias continues." The central bank has cut the key benchmark bank rate twice this year, bringing it down 100 basis points to 7.0 per cent.
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Reserve Bank of India governor Bimal Jalan said on Wednesday the central bank was sticking to its gross domestic product growth forecast of 6.0-6.5 per cent for 2001-02.