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 government on Monday appointed Finance Secretary Duvvuri Subbarao as the new 22nd governor of the Reserve Bank of India.

Mr. Subbaro had been chosen in the place of Y.V. Reddy, who would complete his term on 5th September.

“The order of appointment has been issued. He will assume office when Mr. Reddy demits office,” informed Finance Minister P. Chidambaram at a press conference.