Growth To Slip To 4.8Percent In Fiscal Year14, To Improve Next Year: Crisil

He further said that while a decisive mandate can hasten reforms and resolve policy bottlenecks, a fragile political outcome, in contrast, could further delay long-pending critical reforms and will completely dent investment sentiment and derail growth.
Crisil said there is little scope for monetary policy to boost growth in 2014-15 and recovery in investments would be largely driven by clearance of stalled projects.
It forecast the average WPI inflation at 6.2 percent in current year and fiscal deficit to be at 5 percent.

"We do not envision a sharp pick-up in private corporate sector investments in manufacturing during 2014-15 as capacity utilization rates are very low in most industries," it said.
New projects can hit the ground only in 2015-16 and only if there is a stable policy

Environment after the elections along with a sustainable recovery in demand, it added.
On the sharp reduction in Current Account Deficit, Crisil said the nature of improvement is unsustainable. The government expects Current Account Defecit to come down to USD 50 billion this fiscal, from USD 88.2 billion in 2012-13.

"As and when the curbs on gold import are gradually removed, import demand is likely to escalate once again. As the economy recovers, investment and consumption goods imports will pick-up” A pick-up in domestic growth is also expected to push oil imports higher due to higher volume demand, he said. Reports, The Economic Times

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