GDP growth will be close to 9 pc, inflation to be stable: FM

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New Delhi, Nov 30 (UNI) Finance Minister P Chidambaram today said the GDP growth rate would be close to 9 per cent in the current fiscal and inflation would remain ''more or less at the current level'' of 3.2 per cent.

''We are not planning for a double digit growth this year'' because of the ''turbulence'' in the international market, Mr Chidambaram told reporters who sought his reaction to the second quarter GDP growth rate of 8.9 per cent.

Asked about the possible impact of the rising prices of crude and other commodities in the global market on inflation, the Minister said the government and the RBI had taken several monetary and fiscal steps and ''we stand ready to take further steps, if necessary''.

Going by the current trend, inflation would remain more or less at the current level, he said.


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