Some rating agencies and brokerages reduced the economic growth forecast for 2013-14 owing to the liquidity tightening steps taken by Reserve Bank of India (RBI). For instance, rating agency ICRA lowered its growth forecast to the range of 5.4-5.6 percent from 5.8-6 percent
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Icra revises down economic growth forecast for FY14
The Indian economy may grow 0.40 percentage points lower at 5.4-5.6 per cent during 2013-14 compared to the earlier forecast, ratings agency Icra said. The agency revised down the economic growth estimate citing weak economic environment and rupee
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Govt seeks rating upgrade from Fitch
At a meeting with the representatives of ratings agency Fitch, union finance ministry officials raised the issue of upgrading the credit rating of the country. However, during the meeting, the global rating agency expressed concerns on how deficits will be met and on the ability of the government to meet revenue targets
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S&P expects improvement in bank performance in FY15
Ratings agency Standard & PoorĂâs (S&P) expects the performance of Indian banks to improve only in 2014-15. The agency feels that till then the banking sector would continue to face hurdles, in terms of asset quality and earnings. In 2013-14, the agency expects improvement in the economic growth and corporate performance aided by vario
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