Indian Prime Minister Narendra Modi's likely return to power for a second term will likely be positive for his country's growth, according to economists and investors.
"The economy is slowing down. The new government has to tackle investment as well as consumption. It also has to manage the NBFC crisis, which is ongoing. There is a burden of real interest rate, which needs to be cut. There is a lack of transmission of credit, which needs to be sorted out," he said.
Rashesh Shah, chairman and chief executive of Edelweiss Group, said investors — both foreign and domestic — have been holding back from putting money into Indian stocks and bonds because they are waiting for an "economic revival." Eldelweiss Group is one of the largest financial conglomerates in India.
J.P. Morgan India Economist Sajjid Chinoy said he expected that number to come in the "very low 6s," meaning anywhere between 6% and 6.5%. But the good news, he told CNBC's "Street Signs," is that some of the factors that led to the growth slowdown were "transitory." Chinoy said the authorities need to find more systematic ways of resolving tighter financial conditions in the NBFC sector.
México Últimas Noticias, México Titulares
Similar News:También puedes leer noticias similares a ésta que hemos recopilado de otras fuentes de noticias.
Under Modi, Hindu hardliners turn Indian theatre into a battlegroundUnder Prime Minister Narendra Modi, Hindu hardliners turn Indian theater into a battleground by AnujaJaiman
Leer más »
Modi chooses woman facing terrorism charges as election candidateIndian Prime Minister Narendra Modi chooses woman facing terrorism charges as election candidate by zebatweets
Leer más »
India's Modi set to return to power with a bigger majority, exit polls showIndian Prime Minister Narendra Modi is likely to return to power with an even bi...
Leer más »
Modi set to return to power with a bigger majority, exit polls showIndian Prime Minister Narendra Modi is likely to return to power with an even bi...
Leer más »
At his first news conference in India, PM Modi declines questionsPrime Minister Narendra Modi, in power for five years, attended his first news c...
Leer más »
At his first news conference in India, PM Modi declines questionsPrime Minister Narendra Modi, in power for five years, attended his first news c...
Leer más »
India's Narendra Modi is being trolled with a fake wordPrime Minister Modi, a Hindu nationalist, was called out for lying by opposition leader Rahul Gandhi.
Leer más »
India's Modi-led coalition likely to win majority, exit polls showIndian Prime Minister Narendra Modi's ruling alliance is likely to win a ma...
Leer más »
Modi set to win election, exit polls showIndian Prime Minister Narendra Modi's ruling alliance is likely to win a cl...
Leer más »
Indian Markets Rally on Modi Exit Poll LeadIndian markets cheered as exit polls suggested Prime Minister Narendra Modi is set for another five years at the helm of Asia’s third- largest economy.
Leer más »