Indian government slashes economic growth forecast
India officially pares down its economic growth forecast which is more in line with consensus
India's goverment has finally revised its economic growth forecast at a more conservatives 7/25% - 7.5% from 9% back in February this year:
While the number is still see as more in line with market consensus, it is perhaps still a little more optimistic than some estimates of 6.9% and 7.0%
Yesterday, Euromoney Skew too a look at how despite emerging markets being heralded as the place for sustainable growth and a flight to safety, reports and statistics reveal that India isn’t the golden goose that keeps on giving.
However, while trade deficit widening looks worrying, in the longer term, Citi economists still say that: