During the first half of the year, the economy grew by 5.4 per cent, which implies that growth during the second half will be below 5 per cent.
There is a faint hope that future revisions in the statistics will show the economy in better light. The 5 per cent growth rate is based on economic activities during the first eight months when they were at a low ebb. According to this view, the environment has improved considerably from November and the next round of data revisions, covering the whole year, will see a mark up in the growth rates over what has now been arrived at through extrapolation. Another optimistic view is that the economy has “bottomed out” and from here a recovery is imminent. Is the glass half full or half empty? Have we really hit rock bottom or is there scope for the growth rate to fall further? One awaits the forthcoming Economic Survey and the budget for a clearer, official view of the economy.
change happens only in crisis - 1991 bop crisis
Solutions - 1) clearances posco 2) govt needs fresh blood more Nilekanis, Pitrodas
There is a faint hope that future revisions in the statistics will show the economy in better light. The 5 per cent growth rate is based on economic activities during the first eight months when they were at a low ebb. According to this view, the environment has improved considerably from November and the next round of data revisions, covering the whole year, will see a mark up in the growth rates over what has now been arrived at through extrapolation. Another optimistic view is that the economy has “bottomed out” and from here a recovery is imminent. Is the glass half full or half empty? Have we really hit rock bottom or is there scope for the growth rate to fall further? One awaits the forthcoming Economic Survey and the budget for a clearer, official view of the economy.
change happens only in crisis - 1991 bop crisis
Solutions - 1) clearances posco 2) govt needs fresh blood more Nilekanis, Pitrodas
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