GDP growth for '07 to be 9%: Rangarajan

Posted online: Mumbai, September 12: IST

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Wednesday, September 12, 2007 at 1500 hrs The country's GDP growth rate for the year would be about nine per cent, a top government official said on Wednesday.

"For the year as a whole, the growth rate would be maintained...there could be some special features...I have not yet analysed it. But overall the growth rate of the economy during the year will be about nine per cent," C Rangarajan, Chairman, Economic Advisory Council to the Prime Minister said in Mumbai.

On interest rate cut by Reserve Bank in the light of softening inflation, Rangarajan said the monetary policy had played a role in keeping price level well anchored but price trends have to be well established before reducing interest rates.

"It is good that the year-on-year inflation is below four per cent but we also need to watch how the prices behave during the year and therefore monetary policy changes have to come after a clear trend has been well established," he said.

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GDP growth for '07 to be 9%: Rangarajan

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