CLSA cuts India's FY12 growth forecast to 6.7% | business | Hindustan Times
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CLSA cuts India's FY12 growth forecast to 6.7%

Brokerage CLSA cut its forecast for Indian GDP growth to 6.7% for the current fiscal year ending March from its earlier projection of 7.3%, citing cyclical deceleration caused by high interest rates, policy inertia and the adverse impact of global headwinds.

business Updated: Dec 23, 2011 10:21 IST

Brokerage CLSA cut its forecast for Indian GDP growth to 6.7% for the current fiscal year ending March from its earlier projection of 7.3%, citing cyclical deceleration caused by high interest rates, policy inertia and the adverse impact of global headwinds.

On Thursday, the Reserve Bank of India governor said the economy is poised to miss the central bank's growth forecast of 7.6% for 2011/12 and the inflation outlook is uncertain.

The government said in a mid-year review this month that it expected the economy to grow by 7.25 to 7.75% in 2011/12, down sharply from an estimate of 9% issued in February.