Salient to Investors:
Credit Agricole CIB said markets are pricing in an increasing likelihood that India’s credit rating will be cut to junk status. The median economist predicts Q3 GDP will increase 5.3 percent from a year ago.
Sajjid Chinoy and Jahangir Aziz at JPMorgan expect full-year growth through March 2013 to be 5.6 percent, and 6 percent the following year if the government can push ahead with reform and help revive the investment climate.
Barclays estimates a 1 percent reduction in India’s repurchase rate in half1 2013.
Read the full article at http://www.bloomberg.com/news/2012-11-24/india-pledges-to-cut-deficit-cap-debt-to-avert-downgrade.html