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HSBC, Morgan Stanley cut India's FY14 GDP forecasts
1 of 2. A farmer carries plastic pipes used for watering fields on his bicycle in Tonk, in Rajasthan January 20, 2013.
Credit: Reuters/Danish Siddiqui/Files
Reuters Market Eye - Morgan Stanley and HSBC each cut their India's economic growth forecasts for 2013/14 to 6.0 percent from 6.2 percent to reflect lower-than-expected growth in the October-December quarter.
HSBC says it expects 50 basis points of additional rate cuts in the calendar year 2013, and "a slightly more protracted recovery" in India.
Morgan Stanley says domestic and external environment still remain "challenging," but notes that an improving growth in the agriculture sector, a slight pick-up in export growth and more stable private capex could help improve economic growth.
(Reporting by Subhadip Sircar)
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