Professional forecasters have added to Reserve Bank of India (RBI) Governor Duvvurri Subbarao’s dilemma on timing the exit from an accommodative monetary policy stance.

The Economic Times reports a median forecast released by RBI in the pre-policy ‘Macroeconomic and Monetary Developments: Second Quarter Review 2009-10’ this evening lowered the economic growth projection to 6 per cent from the 6.5 per cent projected three months ago. At the same time, the forecast on inflation based on the wholesale price index (WPI) was raised to 3 per cent, as against 1.6 per cent estimated earlier.

Last week, the Prime Minister’s Economic Advisory Council headed by C Rangarajan had said the economy could grow between 6.25 per cent and 6.75 per cent, as against the 7-7.5 per cent projected in January.

Enter your email address:         Delivered by FeedBurner

Tags: Indian GDP, Indian growth forecasts

This entry was posted on Wednesday, October 28th, 2009 and is filed under GDP growth in India, Indian Economy, News. You can follow any responses to this entry through the RSS 2.0 feed. You can leave a response, or trackback from your own site.