In its mid-year review of monetary and regulatory policy, the Reserve Bank has forecast an annual GDP growth of 8.0%, as against the 7.5-8.0% forecast earlier in its annual policy statement and first quarter review. The Reserve Bank indicated that inflation will be contained between 5.0-5.5%, during the year 2006-07.
The Reserve Bank estimated real GDP growth in the first quarter of 2006-07 at 8.9%, up from 8.5% last year.
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