Reuters with remarks from Reserve Bank of India Governor Urjit Patel:

  • Says since we have committed to reach closer to 4pct CPI we needed to look beyond headline inflation
  • We also find commodity prices have firmed up globally
  • Says given how inflation outlook changes, policy change could be either rate cut, hike or unchanged
  • On growth recovery next fiscal year: budget has provided to key sectors which have multiplier effects in rural areas
  • Says 7.4 pct growth rate expectation for next fiscal year is highly "respectable"
  • Almost everyone agrees impact will be a sharp 'v'
  • Private investment demand in second half of this year may be coming up