For you ignited mind, my friend:
Also key economic indicators:
jan-march 2012 quarter growth at 5.3% lowest in 9 years
GDP growth of 6.5% is even lower than the 2008-09 recession period
Buddy you are clearly blinded by your bias towards the government, otherwise you would understand that during the recession most western countries SPEND money to keep their economies alive, that combined with the big demand from India, China and other emerging markets saved them. So when the world has money to spend, they can also buy things from India, that's why China and India remained with high growth rates during that time.
Today things are different, half of Europe is in deep trouble because of the financial crisis. These governments stopped spending, are saving in where ever it is possible, incrasing taxes and so on, with the downside that most of the industries or just the public don't have the money to buy anymore. When there is no demand from Europe for goods from China or India, it's should be obvious that the growth is reducing!
All over the world people are looking with big worries to the EU, because it's a key for the world economy and problems there will effect all countries and different currencies as well. It's naiv to belive that India could remain with 8+% growth rate, when such a big market suddenly set backs their spendings and that all this has only to do with our own government. They surely could have done certain things better, but we have to see the bigger picture to understand why these things happens.
0.92% Fall in the Yuan. Is this even news worthy or are you guys just grasping at straws.
Depends on if you read the part that says it is falling for 3 month in a row now, so it doesn't matter how far it falls, but it shows that there is currently a general problem in the world economy, that effects all countries, not only India.
Not true, its the US and China that drive the world economy. Not India and China. Outrageous statements such as India's growth fuel the world economy is what make India a joke to many members here.
Oh please, a 1 billion market with a over 300 million middle class is not driving world economy? Why do you think the whole world wants a part of this market, even your beloved US? Not that is surprises me, but please get at least some unbiased opinions and not only US is the best
Actually, the whole world crisis is only caused by the US and other countries are suffering!