India needs a tight monetary policy: JP Morgan’s Chinoy

Sajjid Chinoy, India economist at JP Morgan, says that despite a good monsoon and strong agricultural growth during fiscal year 2013-14, overall growth during the year is likely to be below 5 per cent, with a 4.6-4.7 per cent growth expected in the quarter ended March 2014. Even in the absence of El Nino, the monetary policy will have to be tight going ahead, he adds.

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manishchowhan