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Despite fall GDP will bounce back sharply RBI Governor

News and Press Release - Dated:- 17-2-2017 - New Delhi, Feb 17 (PTI) Reserve Bank of India (RBI) Governor Urjit Patel on Friday said India's economic growth will make a sharp V recovery following the recall of old INR 500 and 1,000 currency notes. Patel also made a strong case for continuing with globalisation even in the face of a potential shift to trade protectionism under US President Donald Trump as India has benefited from open trade. Almost everyone agrees that the impact is going to .....

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play out and needs more work to ensure they are lasting. Asked when India could achieve 9 per cent GDP growth, he said it is difficult to predict sustainable growth rates. Higher growth rate is possible if very fundamental reforms, especially in factors of production like land and labour, are undertaken, the RBI Governor said. Now, how much higher than 7.5 that we are achieving so far is difficult to say. But the fact is, we need to grow at some point faster than we are now, he said. I think 7.5 .....

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