The hardening interest rate regime .is impacting investment and growth especially in sectors where interest rates matter more.
India is well on its way to giving up the 8.5 to 9.5% growth that it could achieve with little effort and will have to settle for 7.5-8.5%.
This up trend has to level off in the months ahead as FII flows cannot be expected to continue unabated at the same rate.
Looking ahead.pulses and oilseeds remain below 2008 levels.if the government does not get its act together the 8.5% expectation will need to be lowered.