The Monetary Policy Committee of India's central banker may now give a rethink on considering growth, which largely remained out of its commentary, as a factor after the government gave lower GDP estimates for the current financial year.
That's the word coming from global research firm Credit Suisse, as it kept its growth estimates unchanged at 6.6 percent for 2017-18.
The Central Statistical Organisation said in its first advance estimates on Friday that India's economy is likely to grow at 6.5 percent, its weakest pace since 2014, in financial year 2017-18.
Estimates Much Below RBI Estimates
The GDP estimates are lower than those of Credit Suisse but even lower than that of the Reserve Bank of India at 6.7 percent. Gross value added estimates of 6.1 percent are much below those of RBI at 6.7 percent. This implies that the pick up in the second half of financial year 2018 would be much more muted, Credit Suisse said in a research note.
Also Read: Modi's Worst Growth Year Puts Pressure on Budget to Spur Economy
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