GDP growth forecast for FY14 reduced to 5.2%
JPanese brokerage Nomura forecasts a sharp decline in India's growth rate for FY14 to 5.2 per cent over FY13
We believe the optimism in FY24 may be misplaced and the impact of the global slowdown is being underestimated."
The RBI will hike the repo rate by 35 basis points in the December meeting and by 25 basis points in February to take the repo rate to 6.50 per cent.
It expects inflation to average 6.8 per cent in FY13, slightly higher than RBI's estimate of 6.7 per cent
It is "circling" about the target of sub-6 per cent for FY24.
The brokerage said it expects the current account deficit to widen and the currency to weaken
There is no "line-in-the-sand" for foreign exchange reserves that were above the USD 530 billion level or Rs.
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