July 17, 2002 | 1604 IST
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Money > Reuters > Report July 17, 2002 | 1604 IST |
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RBI sticks to GDP estimate of 6-6.5%The deputy governor of the Reserve Bank of India said on Wednesday there was no need to revise GDP estimates for 2002-03 as of now but the bank was watching the progress of the annual monsoon carefully. "We are watching carefully the progress of the monsoon but as of now we think there is no need to revise our GDP estimate of 6.0-6.5 per cent," Y V Reddy told reporters. Worries about the monsoon have surfaced in the past days as the southwest monsoon rains have failed to arrive in the northwestern parts of the country. Analysts have said the delay in the rains could hit the country's economic recovery. The worries about the monsoon, which lasts from June to September, have also weighed on investor sentiment on the Bombay Stock Exchange, pulling down some consumer goods stocks, dealers say. ALSO READ:
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