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04-20-2012, 08:49 AM #1
India's economy to recover, more rate cuts seen: Reuters PollIndia's economy will pick up this year, although more gradually than previously thought, while average inflation will be slower, giving the Reserve Bank room to cut rates by another 50 basis points during the fiscal year ending March 2013, a Reuters poll showed.
The survey showed Asia's third-largest economy growing at an annual 6.5 percent in the three months to June, and accelerating to 7 percent in the next quarter. That is down from 6.8 percent and 7.1 percent in the January poll.
Growth is expected to clock a 7.1 percent rate for the fiscal year 2012-13. The International Monetary Fund is a little more optimistic, at 7.3 percent. Growth for the latest fiscal year ended in March is expected to be 6.8 percent.
Yet even so, growth estimates have now been cut for the fifth straight quarterly Reuters poll. The current rate, at 6.1 percent, is far below the near double-digit rates before the onset of the global financial crisis in 2008-09....being a human...