| Font Size |
According to Oxford Economics' forecast, India is expected to report a GDP growth of 3.4 per cent in calendar year 2009, a drastic fall from the 9.2 per cent in 2007 and 7.4 per cent in 2008.
"As we enter the second quarter of 2009, the first indication, that the rate of decline of global output may be slowing, is becoming apparent," Oxford Economics said in a report.
Meanwhile, China, which reported a 13 per cent growth in 2007, is likely to grow 5.8 per cent in 2009. Though China is also expected to report a massive fall in GDP, it would not be as drastic as India's.
China yesterday said its economy in the first three months of 2009 grew by 6.1 per cent, its lowest growth rate in over a decade.
Emerging Asia is expected to grow by 1.5 per cent in 2009, the report said.
India recorded a growth rate of 9 per cent in fiscal 2007-08, which as per the Central Statistical Organisation's advance estimate of national income, is likely to moderate to 7.1 per cent during 2008-09.
Discuss this story on expressindia forums
|
|
NDA (Murasoli Maran, yashwant sinha, arun shourie and others in BJP) saw an opportunity for india during the late 90s (doha and pre deoha) and set out agenda of growth. And they forged relationships that brought investment into india. Of course this was preceded by realization by narasimha rao on the morass that indian economy got into bcoz of penchant for planning and associated nonsense from the time of nehru; and subsequent course correction. The last 4.5 years of constant bickering in the UPA and between UPA and left has convinced rest of the world that india is basket case of republic that threatens to become a banana one but never does and hence there is heavier disengagement by world from india. So we are almost back to where we began. Thanks - I dont know whom to thank; the leader with the motto of "Dher aaye dhurust aaye" or the italian supremo.
What do our great economists have to say in this regard? The blame of failure goes to "Global Meltdown".
for bring down successfully the economy of india. if congres will keep ruleing india will be worse country to live.
GDP to fall 3.4%??? There is a difference between GDP falling and the growth falling silly!!
Oh, overwise one, please be so kind as to tell us if GDP growth or fall rate is not at all an indicator of growth or the lack of it?
Is this the pseudo-secularist rate of growth?
India's GDP may be fall to 5% in 2009But comparative india become a strong economy, if we check global GDP Rate and has to find new sector's out of Software and Automobile
If the prognosis for 2009 is as bad as 3.4%, then what about the statements being made by our "honest" P.M., sometimes supported by his cronie, Chidambaram that our growth rate will be 7.5%?. Are they speaking truthfully?
They were talking about the growt rate of swiss bank accounts of their high-command.
So, where are our economists like MMS, PC, Sardar Montek Singh et al?They were projecting 10, then 9, then 8, then 7, then 6, then ....% growth in GDP.Eating crows???