Citi maintains India's GDP forecast post policy moves
Citigroup has maintained its estimates for India's growth for 2008-09 and 2009-10 at 6.8% and 5.5%.
By Nishanth Vasudevan, ET Bureau |
Citigroup has maintained its estimates for India's growth for 2008-09 and 2009-10 at 6.8% and 5.5%, post the slew of policy measures that are aimed at shielding the economy from a severe global recession.
"The key is now whether and how soon the policy rate cuts and liquidity injection get translated into lower and easier credit availability to the real economy," the bank said in a report.
On Friday, the RBI cut interest rates for the fourth time since October and the government unveiled its second fiscal stimulus package.
"While we expect further monetary easing in the coming months, the govt has said that this would be its last fiscal stimulus in FY09," Citigroup added. At 11:05 AM, the Sensex was at 10,130.42, up 172.20 points or 1.73%.
"The key is now whether and how soon the policy rate cuts and liquidity injection get translated into lower and easier credit availability to the real economy," the bank said in a report.
On Friday, the RBI cut interest rates for the fourth time since October and the government unveiled its second fiscal stimulus package.
"While we expect further monetary easing in the coming months, the govt has said that this would be its last fiscal stimulus in FY09," Citigroup added. At 11:05 AM, the Sensex was at 10,130.42, up 172.20 points or 1.73%.
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