The newly appointed governor of the Reserve bank of India, Duvvuri Subbarao expressed hope for the positive growth in the current fiscal.

He said that the RBI is committed to achieve 8 per cent growth rate in the current fiscal. He expressed concerne about the high inflation rate and said that it would ease in a short time.

The RBI governor advocated policy revision to tame ever increasing prices. He hoped that the apex bank would soon control the price rises through its monetary measures.

The governor also stressed on the need to follow reforms in the real sector. He related the role of increasing oil price to the increasing inflation rate.

He assured that the apex bank would not take any steps which can hinder the morale of investors. It is recalled that the bank has already increased its Cash Reserve Ratio (CRR) and short-term repo rates by 1.5 percent and 1.25 percent respectively.

It is apprehended that the increased interest rates can affect the interests of the investors. He said that the country witnessed 9 percent growth in the previous years due to increased private consumption, increasing private investment and surge in exports.