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Amal
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| 25 October 2008, 08:01:56 |
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Is recession possible in India?
In economic terms what’s recession? When the economic numbers post negative figures, for a few quarters, viz a viz to the as compared to the corresponding figures of the previous periods. Then we are saying that we are looking at recessional pressures. Now with the Indian context we were posting a healthy average 8% GDP over the last few years. Lets be honest some sectors will be impacted by the world crisis and will show some negative numbers viz a viz that of the previous corresponding periods But will that amount to a fear that recession is looming ahead of us and look crest fallen. I beg to differ; the very reason is when the IMF is posting the world average between 2.5%- 2.8% I would say my economy would be posting a much healthier figure even if it is between 6.5%- 7.5%. With a very proactive government which is committed to putting all the resources to insure or maintain higher growth rate I am sure I will not be disappointed in any way even if I am looking at some lower figures.
Lets look at something else the whole lot of people over sold the BRIC report with the India growth story. I request the same people to please look into the report a wee bit closer the average numbers that were predicted in this report was never above 6-6.5% that too over the next few decades. We are now talking of a few quarters may be 6-8 quarters at the most of lower growth rate; we are not going to discount the whole lot of positivity of the India growth story.
I would more forcefully put here that please look of the huge opportunity which is disguised as problems over here and put the best of all your resources into the more positive pictures. Put your faith into the India and the Asian tigers believe me this time on these are going to be the world savers and the world’s turn about will come from here. |
