FY12 growth seen slightly above 7 pct - Kaushik Basu

India's economy is expected to grow slightly more than 7 percent in the current fiscal year that ends in March, Kaushik Basu, the finance minister's chief economic adviser, said on Tuesday.

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India's GDP growth is slowing after a prolonged bout of monetary policy tightening that has seen 13 interest rate increases since March 2010, as well as sluggish investment and weak global conditions.

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