RBI last week lowered economic growth for the current fiscal to 6.9 per cent from the previously projected 7.1 per cent, but saw it bouncing back in a big way to 7.4 per cent in 2017-18.
He said the benefit of junking 86 per cent of currency in circulation will take time to fully play out and needs more work to ensure they are lasting.
Asked when India could achieve 9 per cent GDP growth, he said it is difficult to predict sustainable growth rates.
