See recovery of growth in H2FY10: Goldman Sachs
April 23rd, 2009
Tushar Poddar of Goldman Sachs sees a recovery in growth in the second half of FY10 despite the overhang of election and the fiscal deficit as fundamentals and macros are improving. He added that the second half of CY09 would be better than the first half.
Tushar agrees with the RBI’s growth forecast and pegs India’s FY10 growth at 5.8%. “If banks continue to cut lending and deposit rates, we should see an uptick by the second half. It is hard to see enormous stresses facing India by the end of 2009 as was at the end of 2008.”
Tushar feels that the economy may not move up in a linear fashion and believes there would be a seasonal lull post elections.