India: Economic growth projections worsen

The projected growth is far below the 7.6% expansion forecast for this year.


Afp August 05, 2012

NEW DELHI: India’s economic growth could fall to near 6% this year with the country facing the spectre of its third drought in a decade, a top government policymaker says. In the last few months, the outlook for the once-booming economy has worsened, hit by government policy paralysis, steep interest rates, nose-diving business confidence, the eurozone debt crisis and now growing worry of drought. It comes as private economists also pare their growth estimates for Asia’s third-largest economy, citing concern about “deficient” monsoon rains that sweep India from June to September. A survey of the Associated Chambers of Commerce and Industry of India said the weak monsoon and a deteriorating global situation were expected to lower growth to 6.3%. The projected growth is far below the 7.6% expansion forecast for this year in the Congress-led government’s March budget.

Published in The Express Tribune, August 5th, 2012.

COMMENTS (1)

Tamil Arasan | 8 years ago | Reply

Projected Growth 7.6% and now expected growth is 6.3% the difference is just 1.3%...can some one tell me is this worse???...Major economies such as USA, UK, Japan all are either in Negative or 1% or 2% and hear India is expected to grow 6.3% and i consider this is a best growth considering the size of Indian economy... but still lot of scope for India to improve the economic growth because 6% to me increased to 9% only then India can lift it's huge population out of poverty in a short span of time...

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