From Bloomberg:
"The Indian economy painted a gloomy picture this year, with tumbling markets, falling rupee and slowing growth. Investors are worried, while the government is looking at ways to come out of an impending slowdown. Here's a look at what's wrong with the markets and economy.
The National Stock Exchanges 50-stock index Nifty has declined a whopping 23% for the year, being the worst performing index worldwide! The Nifty is trading at the lowest level in two years. the Sensex too has lost 22.4% in the last one year.
The rupee has touched record lows this month - down 20% against the dollar since the month of August. It is also the worst performing Asian currency in the last three months.
The gross domestic product (GDP) growth of the country too has fallen below 7% in the second quarter - that's for the first time in over two years! Analysts have forecast growth at 6.5% to 7.3% this financial year.
Credit growth has also slowed down by over 17%. India Inc has been saying that high interest rates have hurt investment and factory output reflects that sentiment; it came in at a 28-month low.
Parliament's on-going winter session however, is a ray of hope, as the government is expected to bring in economic reforms."
http://www.yourmoneysite.com/news/2011/dec/a-gloomy-2011-for-the-indias-economy-business.html
"The Indian economy painted a gloomy picture this year, with tumbling markets, falling rupee and slowing growth. Investors are worried, while the government is looking at ways to come out of an impending slowdown. Here's a look at what's wrong with the markets and economy.
The National Stock Exchanges 50-stock index Nifty has declined a whopping 23% for the year, being the worst performing index worldwide! The Nifty is trading at the lowest level in two years. the Sensex too has lost 22.4% in the last one year.
The rupee has touched record lows this month - down 20% against the dollar since the month of August. It is also the worst performing Asian currency in the last three months.
The gross domestic product (GDP) growth of the country too has fallen below 7% in the second quarter - that's for the first time in over two years! Analysts have forecast growth at 6.5% to 7.3% this financial year.
Credit growth has also slowed down by over 17%. India Inc has been saying that high interest rates have hurt investment and factory output reflects that sentiment; it came in at a 28-month low.
Parliament's on-going winter session however, is a ray of hope, as the government is expected to bring in economic reforms."
http://www.yourmoneysite.com/news/2011/dec/a-gloomy-2011-for-the-indias-economy-business.html