GDP growth sustainable: RBI Governor Reddy

GDP growth sustainable: RBI Governor Reddy

Our Web Bureau / Mumbai May 25, 2006

Reserve Bank of India Governor Y V Reddy said this morning that the Indian economy appears to be shifting to higher levels of growth trajectory. "Lately, the economy is perhaps picking up an accelerated growth momentum with an average GDP growth at around 8% per annum during the last three years. It is equally notable that the inflation conditions have moderated to around 5%, decelerating significantly from relatively higher levels in the earlier periods," Reddy said.

Reddy was delivering a speech at the 12th international conference on "The Future of Asia" The Road to an "Asian Community"