India's apex bank, the Reserve Bank of India, expects the economy to recover to above 8% as soon as the current global economic and financial turmoil passes, report media, quoting its Deputy Governor Rakesh Mohan on Monday.

He said that RBI's overall assessment was that a more-than 8%growth could be maintained in the medium-term, while a growth of 8% and above would be achieved as soon as the continuing turmoil was overcome.

The government anticipated a 7% economic growth in this fiscal ending March 31, Mohan said, adding that the country would be cautious in moving towards fuller capital account- convertibility for the rupee.

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