India likely to grow 8.2-8.5% in FY12: Montek

India's economy is likely to grow at 8.2% to 8.5% in the current financial year that began in April, compared with 8.5% rise in the previous year, Montek Singh Ahluwalia, deputy chairman of the Planning Commission said in an interview to CNBC-TV18 on Wednesday.

The Reserve Bank of India (RBI) increased the repo rate at which it lends to banks to 8% on Tuesday, topping forecasts that it would raise rates by 25 basis points.