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Morgan Stanley cuts growth forecast, but India optimistic

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Inside an IKEA store in Stockholm, Sweden
Inside an IKEA store in Stockholm, Sweden
Blaming a misguided policy approach for the steep fall in India's growth momentum, global investment bank Morgan Stanley has scaled down its fiscal year 2012-13 growth forecast to 5.8 per cent. The New York-headquartered bank had earlier projected India to grow at 6.3 per cent for the current fiscal.Chetan Ahya, chief economist for Asia Pacific at Morgan Stanley, said the much-talked about consumption story in the country is being su...
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