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The Reserve Bank of India is planning to do a revised study on the potential growth rate, said the central bank Governor, Dr D. Subbarao.
His comments come in the wake of slowing economic growth. This is underscored by the fact that the increase in the Index of Industrial Production by 5.7 per cent in April-May 2011 was lower than the 10.8 per cent in the corresponding period of last year.
The Governor was speaking at the launch of former Deputy Governor, Dr Rakesh Mohan's book, Growth with Financial Stability: Central Banking in an Emerging Market .
“High interest rates may sacrifice India's growth in the short term, but is essential to secure long-term growth,” Dr Subbarao added.
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