FY05 GDP growth to be higher than 6.5%: Reddy

Y V Reddy, Governor of Reserve Bank of India, today said the inflation for 2004-05 will be lower than the estimated 6.5%, and economic growth will be higher than the projected 6-6.5%.

"Inflation will be lower than what was anticiapted in November, and growth higher than projected in November," Reddy said today.

The central bank would conduct a comprehensive review of monetary policy in the third week of April, he added.

On the special purpose vehicle (SPV) for funding infrastructure projects, Reddy said the market was ripe for long-term paper to fund infrastrcuture
projects.