Citi's GDP Estimates down to 7.7%
Monday, March 24, 2008
Citi has revised FY09 GDP Estimates – from 8.3% to 7.7%. out: Earlier this year, when Citi cut our FY09 GDP estimate from 9% to 8.3%, they said that the two key risks to the growth outlook were- on the domestic front, an extended pause in policy rates which would further dampen both consumption and investments and
- global developments taking a further downturn. With both these risks panning out, we are further cutting our GDP estimates from 8.3% to 7.7%.
The India story has been largely investment-led rising 15% on a YoY basis with the Investment GDP ratio increasing to 36% of GDP from 25% in FY03. With the increase in risk aversion, low appetite for public offerings coupled with high domestic rates could dampen/delay investment demand.
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