GDP slows, all eyes on RBI

Thanks to yet another hike in estimates for agriculture growth, taking it to a whopping 6.6%, the CSO has beaten all expectations to come up with a 8.5% GDP growth for 2010-11. This is heartening since it suggests the growth momentum has not been hit by the series of interest rate hikes, but keep in mind the numbers for the full year hide the fact that the growth momentum has been slowing for four quarters now.

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