GDP growth rate is 6.5% in 2008-09: Prime Minister
India's economy grew an estimated 6.5 percent in the just-ended 2008-2009 fiscal said Prime Minister Manmhohan Singh. He was addressing a press conference in Ludhiana on Monday. He said that inflation is expected to moderate in five to six months.
He said the wholesale price inflation is already down to around 1 percent and there is a time lag for the consumer price inflation to also fall. He said, inflation will moderate in five to six months.
India's central banker the Reserve Bank of India has forecast growth to further slow to 6 percent in 2009-2010. The government will release official GDP data for 2008-2009 on May 29.
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