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JP Morgan has cut its India GDP growth projection for 2014-15 to 5.1% from 5.3% after weak factory output data.
"IIP (industrial production) debacle is the straw that breaks the camel's back," JP Morgan said in its Oct 10 report.
August industrial output rose just 0.4% compared with estimates of 2.4%.
The Reserve Bank of India projects GDP to grow at around 5.5% in the current fiscal year ending March 2015.
A slower growth and a fall in oil and commodity prices increase the chance for the RBI to attain its challenging 6% consumer price inflation target by January 2016, JP Morgan said.
