India may further lower GDP estimation for 2011-12 fiscal

[kawaraj]

The government may lower the growth projections for the last fiscal, which was pegged at 6.9 %, in view of sharp downward revision of industrial output numbers for January. "The government might revise 2011-12 GDP growth figure downwards. Officials of the Department of Economic Affairs


will meet soon to assess the impact of the lower January IIP numbers on last year's economic growth," a finance ministry official told PTI.
As per government estimates, Indian economy grew by 6.9 % in 2011-12 fiscal. The overall growth data was computed after taking into account 6.8 % industrial output in January.

However, as per the recent data by the Central Statistical Organisation (CSO) the January industrial output works out to be 1.1 % and not 6.8 % as estimated earlier.

Accordingly, the cumulative growth figure for April-January (2011-12) was lowered to 3.4 %, from 4 %.

The downward revision, sources said, could have a bearing on the economic growth figures for the last fiscal, which was 6.9 %, the lowest in the previous three financial years.

Finance minister Pranab Mukherjee had already asked the concerned authorities to look into the impact of sharp revision of the Index of Industrial Production (IIP) numbers and termed it as "totally baffling".

"I can understand if there is error in calculating 0.1 % of 0.2 %, but from 6.8 % to 1.1 %, it is totally baffling," Mukherjee had said.

Govt may lower GDP estimation for 2011-12 fiscal - Hindustan Times

anyone take a guess, 6.5 percent, or even lower? next fiscal could be blew 6 percent benchmark.

 

[Sergi]

Govt may lower GDP estimation for 2011-12 fiscal - Hindustan Times

anyone take a guess, 6.5 percent, or even lower? next fiscal could be blew 6 percent benchmark.

hahaha you really hate India . 6.7 was the growth rate of last quarter when there was recession in world economies. Industrial sector did bad in that quarter. Results of first quarter of this year will prove you wrong. But still it will not be as low as 6.5 even counting for the five year plan.

 

[kawaraj]

hahaha you really hate India . 6.7 was the growth rate of last quarter when there was recession in world economies. Industrial sector did bad in that quarter. Results of first quarter of this year will prove you wrong. But still it will not be as low as 6.5 even counting for the five year plan.

I don't hate India, on my list of hating, it's always the US topping the ranking.

I have been advocating closer relationship among regional nations, check the record. but one thing you would find my projection of Indian economy has proved being always right.

 

[Sergi]

I don't hate India, on my list of hating, it's always the US topping the ranking.

I have been advocating closer relationship among regional nations, check the record. but one thing you would find my projection of Indian economy has proved being always right.

Your post's tone made me think that. I would be glad if you point me to your projections on statistics and numember. I will happily check that. Then I will accept you are right. But right now with the data I have I have to say you are wrong. Just for example the industrial growth in last quarter of 2011 was 1/2 % which is in this quarter 7/8 %. GOI is having problems storing the bumper crop which is 3rd straight.

 

[Chinese-Dragon]

hahaha you really hate India . 6.7 was the growth rate of last quarter when there was recession in world economies. Industrial sector did bad in that quarter. Results of first quarter of this year will prove you wrong. But still it will not be as low as 6.5 even counting for the five year plan.

Wrong.

Indian economic growth falls to 6.1% - Wall Street Journal

 

[kawaraj]

Your post's tone made me think that. I would be glad if you point me to your projections on statistics and numember. I will happily check that. Then I will accept you are right. But right now with the data I have I have to say you are wrong. Just for example the industrial growth in last quarter of 2011 was 1/2 % which is in this quarter 7/8 %. GOI is having problems storing the bumper crop which is 3rd straight.

thanks for your sincerity. my basic view, in terms of economy is, India need to improve the efficiency of economy. and next stage of your growth has to be a regional cooperation. this is not stand alone phenomenon. it concerns Pakistan and other South Asian nations too.

and how? ask China to join SAARC, and make this organisation viable in economic ways. You may think China could flood over your market, which was China's concern in 2001 when it joined WTO, facing huge inflow of products from Europe, US, Japan, etc. but look at China today. If you have huge competitive advantage, you have nothing to worry about.

in the framework of the new SAARC, South Asia will soon start industrial development, educated people, cheap labors, fund from China, Mineral from Afganistan, industrial relocation starts. There will be huge synergy coming from the group. Then South Asian could turn into a huge export workshop, with trading centers from Karachi, Mumbai, Dhaka to Sri Lanka.

this is a perfect plan, problem is, who is hindering the process and drag down all the region?

 

[westtowel]

China GDP down from 13 to 8.1
India GDP down from 8.5 to 6.1
Pakistan?

 

[Sergi]

thanks for your sincerity. my basic view, in terms of economy is, India need to improve the efficiency of economy. and next stage of your growth has to be a regional cooperation. this is not stand alone phenomenon. it concerns Pakistan and other South Asian nations too.

and how? ask China to join SAARC, and make this organisation viable in economic ways. You may think China could flood over your market, which was China's concern in 2001 when it joined WTO, facing huge inflow of products from Europe, US, Japan, etc. but look at China today. If you have huge competitive advantage, you have nothing to worry about.

in the framework of the new SAARC, South Asia will soon start industrial development, educated people, cheap labors, fund from China, Mineral from Afganistan, industrial relocation starts. There will be huge synergy coming from the group. Then South Asian could turn into a huge export workshop, with trading centers from Karachi, Mumbai, Dhaka to Sri Lanka.

this is a perfect plan, problem is, who is hindering the process and drag down all the region?

Every county protectes it's domestic industries. That's fair too. Development on somebody else's potential is of no use. We didn't ban Chinese goods. We just add taxes on them. Cuz they are manufacturing at large scale with huge subsidies from govt. how Indian manufactures are supposed to compete with them. It's not only India. Many European countries banned NOT taxed Chinese goods that are harming their home industries.

Adding China to SAARC will just make another forum for confrontation. How India can do that when China is opposing India in UNSC? It's never one way and definately not CHINA way in India.

If you are thinking Chinese industrial growth can help other countries to develope. Think again. eg China is biggest manufacture of consumer electronics. It need market. So how in the world china will develop their competitor in Pak or India or BD. and tieing one countries economy ( they are always dependant but tieing is different) to others is disaster in bad times. Look at EU. Grease has made their life shakey. But now they have to bear it. They can't back down.

Independent growth doesn't exists. Nation can't grow on its own. Not even china. Just assume if apple move out of china. Even if china and USA don't like each other apple need low cost labour and assembly lines and china needs work order. But that doesn't make china and USA tieing their economies to each others

 

[OrionHunter]

The political leadership in India is required to take risks and deliver. The UPA has fine-tuned shifting of accountability and shirking of responsibility into a fine art.

Investment cannot grow till the government crawls out of the committee rooms and finds the balls to take decisions and push legislation. There are so many roadblocks, it's not even funny. Over two dozen Bills, ranging from land acquisition to the new companies act, are on the pending list since the last six years. The rupee cannot be revived unless investor confidence is restored and that will not happen in the atmosphere of policy paralysis or distrust triggered by retrospective legislation.

Procrastination and passing the buck is the UPA's USP. This lame duck government needs to be kicked hard in the a$$ to get moving. They've gone into hibernation so deep that it would be the envy of the sloths in slumber.

The truth is, we are fast becoming a banana republic. And that sucks! Comparing ourselves with China is passe. We need to now compare ourselves with our equals such as countries like Burkina Faso.

 

[Sergi]

The political leadership in India is required to take risks and deliver. The UPA has fine-tuned shifting of accountability and shirking of responsibility into a fine art.

Investment cannot grow till the government crawls out of the committee rooms and finds the balls to take decisions and push legislation. There are so many roadblocks, it's not even funny. Over two dozen Bills, ranging from land acquisition to the new companies act, are on the pending list since the last six years. The rupee cannot be revived unless investor confidence is restored and that will not happen in the atmosphere of policy paralysis or distrust triggered by retrospective legislation.

Procrastination and passing the buck is the UPA's USP. This lame duck government needs to be kicked hard in the a$$ to get moving. They've gone into hibernation so deep that it would be the envy of the sloths in slumber.

The truth is, we are fast becoming a banana republic. And that sucks! Comparing ourselves with China is passe. We need to now compare ourselves with our equals such as countries like Burkina Faso.

Bro Banana Republic ??? You look more frustrated than out Chinese friends here. You are right on some things in your post. Everything is not going good but nothing is that bad too. There are ups and downs in every nation. So chill

 

[1962 spanking]

the whole world is slowing.

 

[FairAndUnbiased]

The political leadership in India is required to take risks and deliver. The UPA has fine-tuned shifting of accountability and shirking of responsibility into a fine art.

Investment cannot grow till the government crawls out of the committee rooms and finds the balls to take decisions and push legislation. There are so many roadblocks, it's not even funny. Over two dozen Bills, ranging from land acquisition to the new companies act, are on the pending list since the last six years. The rupee cannot be revived unless investor confidence is restored and that will not happen in the atmosphere of policy paralysis or distrust triggered by retrospective legislation.

Procrastination and passing the buck is the UPA's USP. This lame duck government needs to be kicked hard in the a$$ to get moving. They've gone into hibernation so deep that it would be the envy of the sloths in slumber.

The truth is, we are fast becoming a banana republic. And that sucks! Comparing ourselves with China is passe. We need to now compare ourselves with our equals such as countries like Burkina Faso.

We know how you feel. We were ruined by a tiny minority clique as well. If you want to know the details of how India's elite work (I wrote about China's former elite, but its applicable to India too as the dynamics are chillingly similar), I can PM you. I compiled a report already.

 

[Sergi]

We know how you feel. We were ruined by a tiny minority clique as well. If you want to know the details of how India's elite work (I wrote about China's former elite, but its applicable to India too as the dynamics are chillingly similar), I can PM you. I compiled a report already.

If you think it's that good then post it here. No probs everyone can read

 

[FairAndUnbiased]

If you think it's that good then post it here. No probs everyone can read

I have very specific reasons for not making it public because it goes against the heart of what many Chinese AND Indians hold to be true. I don't want to argue it out to people that are closeminded.

 

[OrionHunter]

Bro Banana Republic ??? You look more frustrated than our Chinese friends here. You are right on some things in your post. Everything is not going good but nothing is that bad too. There are ups and downs in every nation. So chill

So, truth = frustration? With our 'rulers' thinking like you are, stonewalling issues and afraid to face harsh realities, is it any wonder that we are where we are?

Chill? Yes! The scenario IS chilling!