Speaking to CNBC-TV18, Pranjul Bhandari, Chief India Economist at HSBC, said the Economic Survey‘s forecast of a 6.75 percent to 7.5 percent growth in the Indian economy was realistic.
Global brokerage Citigroup has lowered India's growth forecast to 6.8 percent for this fiscal from 7.2 percent earlier, as cash crunch has affected pick-up in consumption while uncertainty around demonetisation may further delay any recovery in private investments.
Both V Srinivasan of Axis Bank and Ashish Parthasarthy of HDFC Bank agree that the withdrawal limit could extend beyond December 30 because the limit depends on the availability of currency.
Fitch Ratings today lowered India's economic growth forecast for next fiscal to 7.7 per cent, but maintained the GDP projection for current fiscal at 7.5 per cent.
IMF has raised India's FY15 growth forecast to 5.6 percent, higher than 5.4 percent estimated in July this year. The fund believes pick up in exports and investments have aided India's recovery. However the fund is less bullish about global growth this year, reports CNBC-TV18's Gopika Gopakumar.
To be comparable across countries, the IMF world economic outlook projections are done at market prices, which differs somewhat from the factor cost definition used by the government and most analysts.
HSBC lowered its forecast for India's GDP to 4 percent for FY14 from 5.5 percent. It says that economic uncertainty is likely to weigh on the growth forecast in the coming months.
Credit Suisse has lowered India's growth forecast for this fiscal year to 6 percent from 6.5 percent, and for financial year 2014-15 to 7 percent from 7.5 percent earlier.
Engineering and construction major Larsen and Toubro is not revising its growth forecase for FY14, the company's chief financial officer R Shankar Raman said.
ADB could relook at this growth forecast as it has not factored in the recent measures taken by the Reserve Bank of India (RBI) which aimed at curbing rupee‘s fall.
Credit Suisse has lowered India's growth forecast for the current fiscal to 5.7 per cent, but said the economy has bottomed and will see a moderate recovery during 2013.
The Asian Development Bank (ADB) cut India's growth forecast to 5.4 per cent in 2012-13 fiscal, barely two months after it had made a projection of 5.6 per cent growth for the Asia's third largest economy.
The Centre for Monitoring Indian Economy (CMIE) has lowered its growth forecast to 6 per cent, from 6.2 per cent projected earlier, for this fiscal, owing to the delay in recovery in industrial sector and the fall in mining, manufacturing and construction segments.
HSBC today said the Indian economy, which is projected to grow at 5.7 per cent this fiscal, is likely to clip at a faster pace next fiscal at 6.9 per cent following the recent spate of policy reforms.
A day after lowering country's growth forecast to 5.8 percent, the Reserve Bank today said it will step in if economic expansion falls below the current levels of 5.5 percent.
The International Monetary Fund (IMF) has slashed India's growth forecast to 4.9 per cent for 2012 due to low business confidence and "sluggish structural reforms".
After the World Bank cut India's growth forecast to 6.9% in 2012-2013, India Inc leaders have expressed concern over the political situation in the country.
Commerce Secretary Rahul Khullar believes that the growth forecast announced today in the Economic Survey is too optimistic, and says that he expects it to come around 6.5% for FY13.
Macquarie downgraded its India's growth forecast for the year to March 2013 by 1 percentage point to 6.9% due to a lack of policy reforms and the lagged impact of monetary tightening.
Leading ratings agency Crisil today joined its rivals in revising the country's growth forecast for this fiscal downward to 7.5%, citing a lack of reforms and repeated rate hikes on the domestic front, besides weak global economic fundamentals.
In an exclusive interview to CNBC-TV18's Latha Venkatesh, Sharma gives her views on how she sees the world ahead and Axis' prospects in it.
The global economy is "dangerously close to a recession," Morgan Stanley said and slashed its growth forecast for 2011 and 2012, citing recent policy errors in the US and Europe and the prospect of further fiscal tightening in 2012.
Singapore's Ministry of Trade and Industry (MTI) today revised its growth forecast for the city state's economy this year to 5-6%, down from the original projection of 5-7%. Justifying the move, the MTI stressed that downside risks have increased.
Maruti Suzuki shares hit a 52-week low of Rs 1,094.15 on NSE on Thursday after its Japanese parent lowered its growth forecast in India India, which accounts for a major share of its volumes, amidst high inflation and rising competition.
The growth forecast for India in the current fiscal year that ends in March 2012 is expected to be revised downwards, chief economic adviser to the finance ministry, Kaushik Basu, said on Friday.