 "Macquarie cuts India's FY13 growth forecast to 6.9%")
Mumbai: Macquarie downgraded its India’s growth forecast for the year to March 2013 by 1 percentage point to 6.9 percent due to a lack of policy reforms and the lagged impact of monetary tightening.
[caption id=“attachment_131374” align=“alignleft” width=“380” caption=“Macquarie downgraded India’s growth for FY 2013 to 6.9 percent.”]  [/caption]
“While the global environment is likely to remain uncertain, we believe domestic factors will dominate the growth outlook,” Tanvee Gupta Jain, economist at the investment bank, said in a note.
According to the latest Reuters poll of economists on FY13 growth, conducted in mid-October, the lowest growth forecast was 7.1 percent.
Reuters
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