Mumbai: Owing to the prevalent economic concerns and uncertainties created by the 2014 election Barclays has slashed India’s GDP forecast for the FY14 period to 4.7%. The country’s economic growth had dropped to a record fall of 5% during the last period due to dip in the mining and manufacturing output.
The global financial service major also outlined a sluggish outlook for the manufacturing and the mining industry even in the current fiscal. Reviewing the RBI’s stand on repo rates, Barclays’ report stated, “We do not expect any ease in the repo rate until mid-2014.”
Though the report outlined a stable index for the Rupee values the possibility of hurdled path was also outlined due to the upside risks from robust US Dollar scenario. Barclays estimates the Rupee to remain at 61/USD for the next 6-12 months period.
The global financial service major also outlined a sluggish outlook for the manufacturing and the mining industry even in the current fiscal. Reviewing the RBI’s stand on repo rates, Barclays’ report stated, “We do not expect any ease in the repo rate until mid-2014.”
Though the report outlined a stable index for the Rupee values the possibility of hurdled path was also outlined due to the upside risks from robust US Dollar scenario. Barclays estimates the Rupee to remain at 61/USD for the next 6-12 months period.