RBI to review growth figures in January

The RBI said it would 'revisit' the growth and inflation projection figures in January.

The Reserve Bank of India said it would ‘revisit’ the growth and inflation projection figures in January but side-stepped the question of its possible intervention to contain soaring prices.

“RBI’s next policy review is scheduled towards end of January … then we will revisit the numbers for growth and inflation projections,” RBI Governor D Subbarao told reporters here without elaborating.

Subbarao’s statement on ‘revisiting’ the growth projection indicates possible upward revision in the light of considerable rise in GDP growth to 7.9 per cent during the July-September quarter.

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Subbarao,however,declined to give an idea on whether RBI would intervene to check rising prices of various articles,particularly food items.

“I cannot answer now whether RBI needs to intervene or when it will intervene. If we take a decision,we will let you all know about it,” the RBI Governor said after a meeting with Orissa Chief Minister Naveen Patnaik here.

Strongly advocating concrete measures to raise financial literacy among people,Subbarao said he told Patnaik that finance must be included both at school and college level curriculum.

Stating that RBI is trying to push it across the country,he said the Orissa chief minister agreed to take it forward in the state.

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