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India is projected to grow 6.2% this fiscal, report the media, quoting global banking major HSBC. It raised its assessment for the next fiscal by 0.5% to 8.5%, provided the economy recovered.
HSBC Co-Head, Asian Economics, Global Markets, Robert Prior-Wandesforde reportedly said in Mumbai on Thursday that the WPI-inflation was likely to reach 8% by February-March. It could be due to higher energy and manufacturing prices.
In a related development, the Reserve Bank of India (RBI) projected inflation at 6.5% by March-end and the GDP growth at over 6%. Wandesforde said the RBI's measures indicated that the monetary policy was moving towards an inflation-focused regime. He opined that the apex bank's actions were preventive to avoid an asset-bubble in the system, and it could have done this to convince the market that the policy was focused to contain inflation.
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