India's Q4 GDP at 5.8 per cent

India's economy grew a faster than expected 5.8 percent in the March quarter from a year earlier, as a still strong services sector offset a decline in manufacturing.

The annual growth for India's fiscal fourth quarter was above a median forecast of 5.2 percent in a Reuters poll, but sharply lower than the year-ago quarter's 8.6 percent expansion.

The manufacturing sector contracted 1.4 percent in the January-March quarter from a year earlier, while farm output grew an annual 2.7 percent, government data showed on Friday.

For the full year, India's economy grew 6.7 percent in 2008/09, sharply slower than the 9.0 or more in the previous three years. The FY09 projection was 7.1%

Farm sector growth has been revised to 1.6% vs 2.6% earlier.
Source - Economic Times

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Ashok Chawla says "India to witness 7-7.5% growth this fiscal"

India is projected to witness a growth between 7-7.5% during the current financial year, after remaining in high growth path constantly for the last four years, said Ashok Chawla, secretary, department of economic affairs.

Whereas, the pace of growth next year is dependent upon how long the global recession lasts and how quickly capital flows return to normal, he added. With the presence of strong domestic demand stimulus, he added further that the India expected to maintain a strong pace of economic growth despite continuation of global recession.

India has taken a number of steps to inject liquidity into the financial systems, recapitalized banks and other systemically important institutions to tide over the crisis, he said.

Chawla identified banking sectors and capital markets as areas where the expert teams of India and China to jointly work and evolve a time-bound strategy for closer engagement.

Financial sector reform process would play as a key to improve productivity, efficiency, profitability and coverage of the system, he emphasized. - MyIRIS.

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Japan's GDP is down 1.8% in July - September

Japan the worlds second fastest growing economy went officially in recession a month back. But see these bad GDP figures.
I think India is performing much better than Japan.
US is in official recession. Worlds largesr growing economy.
Japan is also in recession.
Germany which is the third fastest growing economy is also in recession.

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India to maintain 7.5% growth in 2008-09: PM

Prime minister (PM), Manmohan Singh has said that despite economic recession and the difficult situation in western countries, India`s growth rate would be maintained at around 7.5% in 2008-09. India recorded 7.6% growth in the last quarter of the current financial year.

Economic crisis was looming all over the world due to the recession that started in the US and Europe, and India was not an exception to it, the PM said, adding `we are not untouched by the economic crisis`.

Some western countries` economic growth rate was negative and recession was hovering there, Singh said, adding the Central government had taken measures to face the crisis.

``Our export, industry and credit availability would bear the minimum effect due to the Centre`s steps to face the economic challenge and recover from it``, he added.

This is the first time that growth in four consecutive years has been 9%, he said, adding industries and businesses were given a boost, new jobs were created, and stagnant agriculture got great momentum.

The UPA government considered that the farmer was the backbone of the country and hence the National Agriculture Development Yojna and Food Security Mission were redrawn with priorities in the past four years, he added further. - IRIS

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What is the meaning of BRIC Nations?

BRIC stands for Brazil , Russia , India and China.

These nations are also called as the emerging economies in the world. These countries are supose to be the future superpower.

The markets in these countries are emerging once.

Almost 2/3 of the worlds population thrives here. Here the population is huge and ROI's is faster.

Between 2000 - 2005 BRIC contributed roughy 28% of the Global growth.

Just imagine the power of BRIC nations.

I will write  full report on BRIC very soon. I am working on it.

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GDP at 7.6 v/s 7.9 as Indian Economy expands at a slowest pace since 2004.

Indian GDP stands at 7.6% v/s 7.9% in last quater.

India’s economy grew at the slowest pace since 2004 last quarter, increasing pressure on the central bank to cut interest rates.

Asia’s third-largest economy expanded 7.6 percent in the three months to Sept. 30 from a year earlier, after a 7.9 percent gain in the previous quarter, the statistics office said in a statement in New Delhi today. The median forecast of 16 economists in a Bloomberg News survey was for 7.2 percent growth.

Governor Duvvuri Subbarao may have to deepen the rate cuts he started last month to support growth in India’s $1.2 trillion economy as the world sinks into recession. Reducing borrowing costs would also shore up investor confidence after terrorist attacks since Nov. 26 killed at least 121 people in Mumbai, the nation’s financial hub.-Blomberg

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