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Inflation remains high & stubborn: RBI

According to the governor, India’s growth story is not inevitable. The country can only achieve growth… by not just implementing economic reforms but governance reforms in all sectors of the economy

March 04, 2013 9:27 IST | India Infoline News Service
Reserve Bank of India Governor Duvvuri Subbarao said that inflation is “still high” and “stubborn”, the balance of payments is under stress.

Mr Subbarao was speaking at seminar of the Indian Institute of Technology in New Delhi on Sunday.

Commenting on inflation and the outlook for economic growth, the Governor said that a decline in investment is a worry because today’s investment is tomorrow’s production capacity.

Has the world lost confidence in India? When will we reach double digits and what should we be doing to get there? My short answer to all those questions is that the India’s growth story is still intact. We can get on track to double digit growth, Mr Subbarao further added.

According to the governor, India’s growth story is not inevitable. The country can only achieve growth… by not just implementing economic reforms but governance reforms in all sectors of the economy.

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