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Now Citi, CLSA trim India's growth to 5.4%

Mumbai, Aug 8 - Two more institutions joined the growing list of analysts expecting sub-6% growth for India this fiscal, with American banking major Citi and global brokerage CLSA today cutting their estimates to 5.4% and 5.5% respectively. "The stars just don't seem to be aligning for India, with almost all the growth drivers being hit...the government needs to get down to serious business with more action to stem a further deceleration in growth," a note from Citi said, adding that it is scaling down its FY'13 growth estimate to 5.4% from the earlier 6.4%.