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Lack Of Optimism Spurring Outlook Downgrades: Radhika Rao

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September 2: Radhika Rao, Group Research at DBS Bank, says the Q1 GDP growth data shows the weakness is spreading from industries to services, with a sharp decline in consumption spending. With growth at a 17-quarter low, “government needs to trade-off between fiscal deficit and growth and focus on growth”, she says. The fiscal deficit could overshoot, she warns, adding that the inflation outlook is not positive either with the RBI left with no room to cut rates.