India economy: gloomy forecasts | beyondbrics:
"India may well be facing its worst economic crisis since the 1990s and confidence is worryingly low. To make matters worse, on Friday the government announced the weakest economic growth data in four years with GDP expansion down to 4.4 per cent in the three months to June.
In response, several banks have slashed their growth forecasts, some by over 1 percentage point. It’s looking pretty grim.
HSBC has reduced its expectations for GDP expansion in the current fiscal year from 5.5 per cent to 4 per cent. For the following year, its prediction is down from 6.6 per cent to 5.5 per cent."
'via Blog this'
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