RBI lowers current fiscal growth projection to 5.5%
PTI: Mumbai, Jan 29 2013, 12:23 IST
partial deregulation of diesel prices.
Further, the RBI also lowered the March-end inflation projection to 6.8 per cent, from 7.5 per cent estimated earlier.
It, however, expected that inflation would remain range bound around current levels due to persistent food inflation and pass through of diesel price adjustments.
"This provides space, albeit limited, for monetary policy to give greater emphasis to growth risks," the RBI said.
December WPI inflation fell to 7.18 per cent, but was higher than the RBI's comfort level of 5-6 per cent.
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