Reuters Market Eye - INDIA's GDP growth will LIKELY be LESS THAN 6 percent for FY13, according TO 72 percent of respondents IN a client survey by Standard Chartered Bank.
Twenty percent of the 125 corporate respondents said growth may be even less than 5 percent.
However, 85 percent of the respondents said India can return to its pre-crisis growth levels of about 9 percent before 2016. The view is likely driven by the fact that the 2014 general elections will effect a change in the political scenario which will be more conducive to economic growth, the bank said in a note.
Only 27 percent of the respondents thought RBI should reduce interest rates by more than 75 bps. Most of the clients (66 percent) expected a 0-50 bps reduction in rates.
Views on the rupee were mixed with 40 percent of the sample expecting USD/INR to be above 57 by end-September, whereas 4 percent felt it could come in above the psychological level of 60. Another 40 percent expect a 55-57 range by the end of September.
(subhadip.sircar@thomsonreuters.com)
