It is most likely that the Reserve Bank of India will take it slow while increasing policy rates any further. But rate hikes would continue in small leaps, forecast analysts seeing the present condition.

Seeing the current GDP figures, finance minister, Pranab Mukherjee has said that it is expected that the GDP would touch 9% this fiscal. ''The encouraging point is 12.4% growth registered in manufacturing. I am quite confident about whatever was projected in the economic survey that GDP growth will not be less than 8.5%-8.75%,'' he said.

''Given this trend in GDP growth, we expect to close the year with an overall performance of close to 9%,'' Ficci president Rajan Bharti Mittal said.

According to Assocham president Swati Piramal. the growth is predicted at 8.6-8.9%.