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    Growth Pace to Continue
 
The Reserve Bank of India (RBI) reaffirmed growth forecast of 7.5%-8% citing strong corporate sector growth, continued investment inflow, strong orders, high capacity utilization, good export growth, stabilized inflation, and sufficient liquidity of banks.
 

 

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The Reserve Bank of India (RBI) reaffirmed growth forecast of 7.5%-8% citing strong corporate sector growth, continued investment inflow, strong orders, high capacity utilization, good export growth, stabilized inflation, and sufficient liquidity of banks.

In the Second Quarter Review of Annual Monetary Policy for 2006-07, the RBI said “There are several positive factors in domestic developments during 2006-07” saying that this trend supports “an optimistic near-term outlook for the Indian economy.” In its earlier report, the RBI was concerned with the impact of less than average rainfall on agriculture but the revival of monsoons has apparently eased such concerns.