RBI Governor's statement - <b>Video</b>

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 Statement by Dr.Y.Venugopal Reddy, Governor, Reserve Bank of India on the First Quarter Review of Annual Monetary Policy for the Year 2007-08.

 This Review consists of three sections:

 I. Assessment of Macroeconomic and Monetary Developments;
II. Stance of Monetary Policy; and
III. Monetary Measures.

 An analytical review of macroeconomic and monetary developments was issued a day in advance as a supplement to this Review, providing the necessary information and technical analysis with the help of charts and tables.

 I. Assessment of Macroeconomic and Monetary Developments Domestic Developments

 2. At the end of May 2007, the Central Statistical Organisation (CSO) released quarterly real GDP growth estimates for January-March 2007 at 9.1 per cent as against 10.0 per cent a year ago. Along with revisions for the preceding three quarters, real GDP growth in 2006-07 was raised to 9.4 per cent from 9.2 per cent in the CSO