Morgan Stanley and HSBC each cut their India's economic growth forecasts for the 2013-14 fiscal year to 6 per cent from 6.2 per cent to reflect lower-than-expected growth in the October-December quarter.
HSBC said it expects 50 basis points of additional rate cuts in the calendar year 2013, and "a slightly more protracted recovery" in India.
Morgan Stanley said the domestic and external environment still remain "challenging," but noted 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.
Copyright @ Thomson Reuters 2013
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