India GDP growth to slow at 6.9% for 2011

[davidson]

7, Feb, 2012

NEW DELHI -- India’s gross domestic product or GDP growth is expected to be lower than 7% at 6.9 per cent, according to advance estimates for the year ending March 2012.

India’s government predicted the weakest economic expansion this year since 2009, the Central Statistical Office said in a statement in New Delhi today. This is the slowest growth after 2008-09 when India registered a growth rate of 6.7 per cent.

In December, Goldman Sachs' Jim O'Neill called India the most disappointing of the BRICS countries, and warned of a risk of a balance of payments crisis if policymakers were not careful.

The rupee, Asia’s worst performer last year with a 16 percent slide against the dollar, strengthened 0.4 percent to 48.9375 per dollar as of 11:01 a.m. local time.


GDP Growth Fiscal year

(2011) = FY 12: 6.9% ( Advance Estimate )

(2010) = FY 11: 8.4%

(2009) = FY 10: 8.4%

(2008) = FY 09: 6.7%


India GDP growth to slow at 6.9% for 2011-12

http://www.businessweek.com/news/20...-growth-since-09-adding-to-rate-cut-case.html

http://www.moneycontrol.com/news/economy/key-political-risks-to-watchindia_663295.html

 

[sachin@india]

That is so bad...our exports have been really hit hard because of euro crisis...but surely we gonna make comeback

 

[K-Xeroid]

Indian GDP Growth rate is continously coming down, Same with Pakistan's during in this whole PPP government Era... Never seen a better growth rate of 7.4 or 8.9 in this era like it was in Musharaf's era.. ..

 

[Yeti]

This is to be expected given the current economic climate

 

[kawaraj]

exactly echo my comments several month ago when indian members stormed me for badmouthing India.....

I'd say its 6.8 percent exactly, for next fiscal year, could be 5.9 percent, check it out a year later.

 

[davidson]

India Official: Aim to Shrink Next Year Budget Gap

7, Feb, 2012

While government expenditure totaled 8.96 trillion rupees in the April-December period, 71.3% of the full-year aim, revenue was muted at 5.15 trillion rupees.

India Official: Aim to Shrink Next Year Budget Gap - WSJ.com


Bad News - India Facing High Fiscal Deficit

 

[Roybot]

exactly echo my comments several month ago when indian members stormed me for badmouthing India.....

I'd say its 6.8 percent exactly, for next fiscal year, could be 5.9 percent, check it out a year later.

Nah I think I would rather believe IMF's prediction.

 

[ares]

Economic growth likely to slow down to 7-7.5% in FY12: PM - Economic Times

India economy has grown by 7.5% in first 3 quarters of FY(2011-12) ..for it to slow down to 6.9% for the whole year ..it will have to grow less than 6.4% in last quarter..which is very unlikely ..considering how things are picking up.

Or As economic experts are saying "the worst is behind us"

Rupee is in recovery mode.
Inflation is at 2yrs low.Food inflation is negative
Interest rate cuts are expected.
Manufacturing sector growth at 8 months high.
Industrial growth, after posing -ve 4.7 % last quarter is growing at 5.9%.
Sensex is bouncing back.

 

[farhan_9909]

ups and down occur

 

[Yeti]

FDI is also up


India: FDI up despite all odds | beyondbrics | News and views on emerging markets from the Financial Times

 

[kawaraj]

Nah I think I would rather believe IMF's prediction.

well, you have to admit my prediction is still in positive view of India and world economy, for the 5.9 for next fiscal year.

considering your running high deficit, you still need to neutralize a possible downturn Crisis spurning around, look at the Europe.

---------- Post added at 12:08 PM ---------- Previous post was at 12:08 PM ----------

Nah I think I would rather believe IMF's prediction.

posted twice and why....

let me add, don't trust what E&Y says, that'a a bunch of Indian graduates from US universities. they always send the wrong signals to the cabinet.

 

[ares]

India Official: Aim to Shrink Next Year Budget Gap

7, Feb, 2012

While government expenditure totaled 8.96 trillion rupees in the April-December period, 71.3% of the full-year aim, revenue was muted at 5.15 trillion rupees.


India Official: Aim to Shrink Next Year Budget Gap - WSJ.com


Bad News - India Facing High Fiscal Deficit

It is called spending with in your means.. aiming to contract the budget deficit(not the budget ) is a good thing!!

PS : India hasn't faces high fiscal deficit yet..In first 9 months they are at 92% of their set target.

 

[haywards]

It is becz of the RBI tight monitoring policy to curb inflation....tht reduce investment....now the inflation is under control....
i think this is balance growth...

 

[ares]

well, you have to admit my prediction is still in positive view of India and world economy, for the 5.9 for next fiscal year.

considering your running high deficit, you still need to neutralize a possible downturn Crisis spurning around, look at the Europe.

Downturn is expected when to dowsize the deficit govt decides to cut the productive investment and continues with non productive investments(as is happening in Pakistan ) on contrary Indian govt have ordered PSUs to invest heavily.

Business Line : Industry & Economy News : Govt to PSUs: Invest as claimed or face music

To achieve the fiscal deficit cut of 0.4% ..other non productive expenditures are likely to be curbed eg there was proposition to freeze the defence budget this yr

 

[davidson]

To achieve the fiscal deficit cut of 0.4% ..other non productive expenditures are likely to be curbed eg there was proposition to freeze the defence budget this yr

just big mouth, India gov miss fiscal deficit cut target every year, out of control soon