RBI's tightening measures unlikely to recede: Ridham Desai

Here are experts' outlook on Indian economy and views on RBI's steps to curb rupee volatility

Ridham Desai, Morgan Stanley: RBI's tightening measures are unlikely to recede until CPI moderates or US labour data disappoints. Last week, we trimmed banks by 200 bps and now we take our position down by a further 300 bps and add that to consumer staples instead.

Sunil Garg, JP Morgan: We are skeptical about the government's ability to meet its targeted fiscal deficit of 4.8% of GDP in the current fiscal year. We are overweight on IT Services, high-quality financials, energy and state utilities and Underweight on consumer discretionary, industrials and materials.