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Wednesday, May 19, 2004

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Growth fixed at 6.5 -7p.c.

MUMBAI, MAY 18. The Reserve Bank of India said today the economy would grow at 6.5-7.0 per cent in the current year and the inflation rate would remain around 5 per cent without any ``upward bias''.

The bank has taken into account various factors, including business confidence and credit demand pick-up, in formulating the growth rate for the Gross Domestic Product for 2004-05, the RBI Governor, Y.V. Reddy, said here.

PTI

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