India's Q2 growth likely to drop to 5.1%: Report
Agencies: New Delhi, Nov 27 2012, 15:33 IST
above the RBI's comfort zone of 5-5.5 per cent.
The RBI is likely to press the pause button in its December meeting but may cut rates by January 2013.
"Overall, we maintain expectations of a 50 basis points cut by March 2013," Religare said in a research note.
The Karvy report further said that GDP estimate for FY13 is 5.3 per cent which is on back of further weakness in the Services sector.
"Services sector is estimated to grow by 6.4 per cent as compared to 8.9 per cent growth in FY12. Due to sluggish demand for exports, trade sector is expected to weigh heavily on performance in Services sector," the report said.
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