India’s festival season to bring some cheer to economy, say economists – Reuters Poll

Economists predict that Indian consumer spending during this year’s festival season will be slightly better than last year, but it is unlikely to significantly boost the country’s already fast-growing economy. Despite expectations of 6.3% growth this fiscal year and next, the survey data suggests that a Reserve Bank of India interest rate cut is still far off. While consumer spending in the current quarter is expected to provide some lift, the overall growth outlook for the year remains unchanged.