New Delhi, June 16 (PTI) Describing the decision of the Reserve Bank to raise key interest rates as the "right move", the Planning Commission today said the tight monetary policy will not hurt growth, which is projected at 8.25 per cent to 8.5 per cent for the current fiscal.
"I think it is certainly the right move (of RBI) to contain inflation. This is a widely expected move," Planning Commission Deputy Chairman Montek Singh Ahluwalia told reporters here.
"I don't think it will impact economic growth. I have already said it would not be 9 per cent this fiscal. It would be in the range of 8.25 to 8.5 per cent, which is a reasonable thing to plan for," he said.