Credit Suisse cuts India FY13 growth forecast
MUMBAI (Reuters) - Credit Suisse has lowered India's economic growth forecast marginally to 5.9 percent from 6 percent for the fiscal year ending March.
The investment bank also reduced its growth forecast for FY14 to 6.9 percent from 7.2 percent, it said in a research note.
"This largely reflects the delayed RBI rate response, although we continue to stress that our projections are above those of the consensus," the bank said in a note.
(Reporting by Subhadip Sircar; Editing by Jijo Jacob)
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India approved on Saturday the purchase of 814 mounted gun systems for the army at a cost of 157.5 billion rupees ($2.55 billion), a defence ministry spokesman said. Full Article