'GDP expected to be about 8.5 percent'

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New Delhi, 15 Dec, 2007 : According to the Governor of Reserve Bank of India, Y V Reddy, the Gross Domestic Product for the current year is expected to be about 8.5 per cent.

He said that for the current year, though subject to review, current expectation is GDP growth will be 8.5 per cent, inflation would be below five percent. The financial market, by and large, particularly money market, government securities market and products market, are expected to be reasonably stable.

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