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Morgan Stanley cuts India growth forecasts
Reuters | 21-May 15:11 PM
Morgan Stanley has cut India's 2012 economic growth forecast to 6.3 per cent from prior 6.9 per cent; 2013 forecast to 6.8 per cent from 7.5 per cent.
On a financial year basis, Morgan Stanley expects FY13 growth at 6.3 per cent and FY14 growth at 6.9 per cent.
"Bad" growth mix - a combination of high national deficit and an expansionary policy of supporting consumption while private investment slows - has reached its limits, Morgan Stanley said.
It said it expected the RBI to lower repo rate by an additional 100 bps by March 2013, after 50 bps cut effected in April.
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