Expect modest upturn in growth to 5.6% in FY15: Malkani

Rohini Malkani, Citi said, "Assuming normal monsoons, RBI's interim target of 8 percent in Jan 2015 appears attainable and hence we do not expect incremental policy tightening from current levels. However, given trends in core CPI, we maintain our view that rates are likely to remain higher for longer."

"We expect a modest upturn in growth to 5.6 percent in FY15 with the delta coming from a pick- up in investments," he added.