Indian growth at lowest level in two years, 7.7 to 6.9

[Roybot]

6.9% is just for this quarter, overall for the year will be over 7%

 

[Chinese-Dragon]

Chinese and Indian growth rates are slowing down because ..world economy is entering recession ..just like as it happened in 2008.

There is an economic downturn going on, but what "world recession" are you talking about? How many countries have posted negative GDP growth for two quarters?

The bottom line is that India constantly boasts and sets growth targets that it always fails to achieve. They love to talk about India "catching up with China" rofl despite having an economy that is four times smaller and with a much lower percentage growth rate?

Now go and calculate 9% of 6 trillion, and compare that to 6.9% of 1.5 trillion. Then tell me how much more we are adding to our economy every year than you are.

 

[kawaraj]

6.9% is just for this quarter, overall for the year will be over 7%

you seem to forget what's called a Fiscal Year.

 

[ares]

There is an economic downturn going on, but what "world recession" are you talking about? How many countries have posted negative GDP growth for two quarters?

The bottom line is that India constantly boasts and sets growth targets that it always fails to achieve. They love to talk about India "catching up with China" rofl despite having an economy that is four times smaller and with a much lower percentage growth rate?

Now go and calculate 9% of 6 trillion, and compare that to 6.9% of 1.5 trillion. Then tell me how much more we are adding to our economy every year than you are.

This is why it is said you should read carefully .. pay heed to the word "is entering" recession meaning is not in it yet.

US economy is down.
The U.S. Economy is Entering a New Recession

Europe is on its knees.

Eurozone and UK at risk of recession, warns EU - Telegraph

Japan is still recovering from the earthquake.

India and China are slowing down.

Who compares India and China economically .. everyone know China is much bigger economy whereas India is smaller..comparable part is the similar growth rate both countries have doing in the past decade.

---------- Post added at 10:45 AM ---------- Previous post was at 10:43 AM ----------

you seem to forget what's called a Fiscal Year.

You seem to forget not all institutions calculate Growth rate on FY basis eg World Bank and IMF do it on Calender year.

 

[afriend]

Guys Most indians are educated enough to understand the size of China and india. So i would say, what is for jesus is for jesus, what is for ceaser is for ceaser. So don't mix economics with hate politics.

 

[Roybot]

you seem to forget what's called a Fiscal Year.

I was talking about the Fiscal year, Mr Smart Alec

 

[Chinese-Dragon]

Guys Most indians are educated enough to understand the size of China and india. So i would say, what is for jesus is for jesus, what is for ceaser is for ceaser. So don't mix economics with hate politics.

Good advice, please tell that to your fellow countrymen who constantly predict the collapse of the Chinese economy, due to the fact that they can't catch up with us.

And please read this article from the Indian "think tank" IDR, which predicted that China would collapse during the 2008 Credit Crunch.

The Fall of the Dragon - IDR

Chinese have only started paying attention to India recently, but now we can return those favours you have been giving us for all these years.

 

[kawaraj]

I was talking about the Fiscal year, Mr Smart Alec

so you are confident about the figures of this quarter and next quarter.

the odds are against you. see the trend.

 

[Roybot]

so you are confident about the figures of this quarter and next quarter.

the odds are against you. see the trend.

Yes 7.5% for the fiscal is still very much achievable.

India Stocks Reach 2-Week High on Speculation RBI May Boost Cash - Bloomberg

 

[Chinese-Dragon]

Yes 7.5% for the fiscal is still very much achievable.

India Stocks Reach 2-Week High on Speculation RBI May Boost Cash - Bloomberg

LOL, yet you guys were already boasting about "outpacing" China's GDP growth in this other thread?

http://www.defence.pk/forums/world-affairs/77664-india-outpace-china-2011-wb.html

But now you have given that up, and now you are "hoping" for 7.5% instead?

What next?

 

[afriend]

@chinese dragon, i have seen many rants from chinese think tanks. majorily authoritarian views about world affairs including their neighbors. But i would like to keep it a place which deserves, that is trash can. So i would say you too do the same of indian think tanks paranoia and speak to an Indian without prejudice. As i believe most of indians or chinese do not even care about what these think tanks say. Even though i think, chinese majority opinions can be influenced far better with the censored news that they receve more than than indian majority who reads information or news without much censorship from multiple sources, this is my personal opinion correct me if i am wrong.

 

[Punjabbi Munda]

Indian growth at lowest level in two years
Growth of Asia's third-largest economy slumps from 7.7 to 6.9 per cent in second quarter, as global economy slumps.
Last Modified: 30 Nov 2011 15:04

India's economic growth slumped to a two-year low of 6.9 per cent in the second quarter [Reuters]

India's economy grew at its weakest pace in more than two years in the quarter that ended in September, revealing the heavy toll that rising interest rates and the stumbling world economy are having on Asia's third-biggest economy.

Economic growth slumped to 6.9 per cent in the second quarter, data showed on Wednesday, nearing the slump in the three months to June 2009 when the economy grew just six per cent.

The second-quarter growth was sharply below the the 7.7 per cent expansion logged from April to June, and 8.4 per cent growth posted a year ago.

Manufacturing output grew just 2.7 per cent year-on-year, down from 7.8 per cent a year earlier.

"There's a clear slowdown," Credit Agricole economist Dariusz Kowalczyk told the AFP news agency, warning of a potentially "quite significant" downturn longer-term due to lagged effects of aggressive rate hikes and a gloomy global outlook.

Finance Minister Pranab Mukherjee cut India's growth forecast to 7.3 per cent for the fiscal year to March 2012 from an original blistering nine per cent.

But some private economists said expansion could be as low as 6.5 per cent with the country shifting to a new, lower growth trajectory.

"We're having multiple problems," Mukherjee said, citing anaemic growth in Europe and the US that has slowed investment and export demand as well as "problems within the country".

Political paralysis over contentious economic reforms has diminished investor confidence and the debt-laden government lacks the fiscal firepower to spur the economy.

Mukherjee has been steadily lowering his growth forecast since February as the economy has been hobbled by 13 interest rate hikes in under two years that have failed to tame inflation, still flaring near 10 per cent.

'Tough times ahead'

"It's been a while since we've seen an Indian growth number with a six at the start of it. The economy is slowing rapidly," Glenn Levine, an economist at Moody's Analytics, said. "It looks like tough times ahead."

The growth downturn is an additional burden for the Congress party-led government, which is facing strident opposition to its attempt to jump-start its stalled reform agenda by opening up India's vast retail market to global competition.

Prime Minister Manmohan Singh's popularity has already been sapped by surging food prices, which have hit India's poor masses hardest, and a slew of corruption scandals that sparked huge anti-fraud protests.

The sluggish growth means an end to India's rate hiking cycle, said economists, who predicted the central bank may start cutting rates in the first six months of 2012 if inflation cools.

On Monday, the Organisation of Economic Co-operation and Development (OECD) warned the global slowdown would hit emerging giants India and China, but could also bring a respite from inflation.

China's growth eased to 9.1 per cent in the last quarter from 9.5 per cent in the previous three months, its lowest in two years, hit by efforts to tame inflation and global economic headwinds.

Analysts said the slowing economy would pile more pressure on the rupee, trading at record lows against the dollar, as investors flee emerging markets for safer havens, rattled by the eurozone debt crisis.

Source: Agencies

Indian growth at lowest level in two years - Central & South Asia - Al Jazeera English
~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~

Well, there are so many members who say India can challenge China.
It doesn't look like India will challenge China anytime soon.

China's on the decline as well..their growth projections have been lowered to 8%...and read:
http://www.firstpost.com/economy/th...an-markets-will-do-better-in-2012-146233.html
Inflation has come down to a very good 8% when looked at 10+ from previous months,Rupee has risen,Sensex is also going up and worst seems to be over.Please check out some latest articles.
While the worst for China seems to have started
http://economictimes.indiatimes.com...espite-policy-easing/articleshow/10945126.cms
China PMI shrinks for 1st time in 3 yrs as economy slows down - The Economic Times

India Stocks Reach 2-Week High on Speculation RBI May Boost Cash - Bloomberg

This years average growth:7.5%
India sees growth above 7.5% despite global turmoil - The Economic Times
Despite the global meltdown still very good when compared to the rest of the world.

---------- Post added at 11:16 AM ---------- Previous post was at 11:14 AM ----------

Inflation is down
At 8%, plunging food inflation brings back smiles - The Economic Times

 

[FairAndUnbiased]

@chinese dragon, i have seen many rants from chinese think tanks. majorily authoritarian views about world affairs including their neighbors. But i would like to keep it a place which deserves, that is trash can. So i would say you too do the same of indian think tanks paranoia and speak to an Indian without prejudice. As i believe most of indians or chinese do not even care about what these think tanks say. Even though i think, chinese majority opinions can be influenced far better with the censored news that they receve more than than indian majority who reads information or news without much censorship from multiple sources, this is my personal opinion correct me if i am wrong.

only negative news about the West is censored. The censors are self racist. They censor more negative news about the US than negative news about China.

The media plays up the deaths of 6 children in the 2008 milk scandal, which while tragic, is NOTHING compared to the 29 that died from toxic melons in the US just a few weeks ago. The media plays up the deaths of the 37 who died in the train accident a few months ago in Wenzhou, but fail to note that the US makes up 20% of all train accidents worldwide, while China is only 4%.

They will never realize that the shoddy and dangerous US products and systems threaten the world with their incompetence and belligerence.

 

[Punjabbi Munda]

Business Line : Industry & Economy / Economy : Economy to accelerate in Q4: Kaushik Basu
Chinese problems seem to have started.
China Stocks Fall on Economic Concern, Head for 4th Weekly Slump - Businessweek

---------- Post added at 11:23 AM ---------- Previous post was at 11:22 AM ----------

More bad news from China’s economy | beyondbrics | News and views on emerging markets from the Financial Times

---------- Post added at 11:23 AM ---------- Previous post was at 11:23 AM ----------

More bad news from China’s economy | beyondbrics | News and views on emerging markets from the Financial Times

 

[Dr. NooB NinjA]

Oh well.. What the heck... I have to copy-paste once again in this thread also.. Dont mind it for the greater good of my fellow countrymen..!!

You know what really is ruining this thread/forum.., is the you blow me and I blow you attitude of some member who dont mind taking a cheap shot at whatever comes their way... Yet to see a favorable post about India what so ever; from some of the members here.. Arrogance at its best I must say..!! And never mind people; just remember.. DONT FEED THE TROLLS..!! Any part of your brain thinks that you can get into a productive discussion with them, is wrong..!!