India maintains high growth rate

[Rahul92]

ndia's economy grew faster-than-expected in the second quarter of its financial year, figures show.

In the three months to September, gross domestic product (GDP) was up 8.9% from the same period last year.

India is the world's second fastest-growing major economy


Although only the world's 11th biggest economy, India is the second fastest-growing major economy, behind China.

Strong farm production, increased vehicle sales and growing bank lending helped to boost the growth rate, India's statistics agency said.

There was a 9.8% jump in manufacturing from a year before, and an 8.8% increase in construction, while farming output was up 4.4%.

Meanwhile, the growth rate for the first quarter was revised upwards to 8.9% from 8.8%.

Some analysts believe the strong performance could lead the central bank to introduce monetary tightening to restrict inflation, running at 8.58%.

Interest rates have been raised six times since the start of the year and the Reserve Bank of India has said bringing down inflation remains a priority.

On Tuesday, Finance Minister Pranab Mukherjee said India could achieve GDP growth of between 8.5% and 8.75% in the current financial year, which ends in March 2011.



http://www.bbc.co.uk/news/business-11872464

 

[badguy2000]

well, let wait and see when India can grow faster than CHina.....

may it hapen before India's GDP is surpassed by the one of Guangdong province. hahah!

 

[civfanatic]

well, let wait and see when India can grow faster than CHina.....

may it hapen before India's GDP was surpass by the one of Guangdong province. hahah!

Wait for the 2011-2012 fiscal year. There is a good chance of India's growth surpassing China.

But if that happens, we have CCP to thank more than our own babus, since it is has become CCP policy nowadays to slowdown growth.

 

[SATISH]

well, let wait and see when India can grow faster than CHina.....

may it hapen before India's GDP is surpass by the one of Guangdong province. hahah!

well that can be easily done by fudging reports and forgery....like your provinces do.

 

[badguy2000]

well that can be easily done by fudging reports and forgery....like your provinces do.

anyhow, the open goal of Guangdong province is that its GDP is to suprass S.Korea's before 2015. and it might be fulfiled head of the schedule .

if India's GDP were still be in the same league of S.KOrea in 5 years, it is possible that India's GDP is to be surpassed by Guangdong.

 

[SHASH2K2]

anyhow, the open goal of Guangdong province is that its GDP is to suprass S.Korea's before 2015. and it might be fulfiled head of the schedule .

Infact Guangdong can surpass USA by 2015 . All you guys needs to do it a fudge some documents . That shouldn't be so tough?

 

[badguy2000]

Infact Guangdong can surpass USA by 2015 . All you guys needs to do it a fudge some documents . That shouldn't be so tough?

well, since now,you should keep remining yourself that "all datas from CHina must be cooked!"!

 

[Rahul92]

it is common that some provinces have more GDP than its own country it doesn't mean that the province is superior than other countries the GDP's are always compared on nation basis not on province

 

[LETHALFORCE]

more evidence China is on the way down, china has peeked,Chinese economy has expanded to the point where it cannot grow except from the fake numbers the govt has been putting out for years.

 

[badguy2000]

more evidence China is on the way down, china has peeked,Chinese economy has expanded to the point where it cannot grow except from the fake numbers the govt has been putting out for years.

if in your word,"china" were replaced with "USA", it would extremely be fit for the situation after in 2008 wall street screwed the economy of USA.

More evidence USA is on the way down, USA has peeked,USA economy has expanded to the point where it cannot grow except from the fake numbers Wall Street has been putting out for years.

 

[Rage]

anyhow, the open goal of Guangdong province is that its GDP is to suprass S.Korea's before 2015. and it might be fulfiled head of the schedule .

if India's GDP were still be in the same league of S.KOrea in 5 years, it is possible that India's GDP is to be surpassed by Guangdong.

How do you expect India's GDP to be at the same level in 5 yrs?

What kind of fool are you? India's 'overground' GDP is already valued at over $1.23 trillion, in contrast to Korea's GDP of $839 billion for the fiscal 2008-09. The next five years are going to see some of the fastest growth, and even if we grow at 9% for the next 5 years, a very modest minimum given macro economic spending plans, removal of caps on equity flows and industrial activity, we will still have reached a GDP of $2 trillion by 2015. Btw, a 'fiscal revaluation' is coming. Just as the several China have had, after its tax reform.

 

[LETHALFORCE]

if in your word,"china" were replaced with "USA", it would extremely be fit for the situation after in 2008 wall street screwed the economy of USA.

never going to happen chinese economy in for long steady decline

 

[Rahul92]

y can't u accept china will never emerge as country of the century

 

[Rage]

You know, in order to get this thread back on topic, I'm going to focus on some of the effects this thing has had.

badguy, I don't want you making this an India-China bitchfest, as in every thread:

- In the three months ended Sept. 30, farm output, which constitutes about 16% of GDP, rose 4.4%, quicker than the 2.5% rise in the previous quarter. Services like trade, hotels and transport grew 12.1%, while manufacturing output rose 9.8%.
-The benchmark 30-share BSE Sensex rose following the strong GDP data, ending up 0.6% at 19,521.25. Government bonds fell as investors saw a greater chance of interest rate hikes by the RBI.
- It also prompted Finance Minister Pranab Mukherjee to revise higher his growth forecast for the year ending next March 31, to 8.75% from a previous estimate of 8.5%.
- D.K. Joshi, principal economist for Chrysler, asserts that: " "Growth is taking place despite the central bank withdrawing the easy monetary stance, in spite of the fiscal authorities also taking away part of the fiscal stimulus.
- However, analysts like Robert Prior-Wandesforde, a Credit Suisse economist, predicts that growth will remain strong through March but then "a combination of higher oil prices, a strengthening real exchange rate and, most importantly, the lagged impact of higher interest rates is likely to take its toll on economic activity." He suggests that growth will be curtailed next year.
- The dynamic growth will worsen India's coal shortage next year, which is expected to jump 23.8% from year on year.
- The disclosure of the scandal in 2G licensing has dampened the bullish mood foreign institutional investors had in India's stock market early in the quarter. There have been net outflows of $158 million since Nov. 12 and a quick resolution to the issue is necessary. Analysts say the scandals in India have amplified the effect on sentiment in emerging economies of fears in regard to Chinese policy tightening and concern about the eurozone debt crisis.
- Consumerism continues to drive the economy, as the government continues to diversify it and make it more export-oriented.

 

[badguy2000]

How do you expect India's GDP to be at the same level in 5 yrs?

What kind of fool are you? India's 'overground' GDP is already valued at over $1.23 trillion, in contrast to Korea's GDP of $839 billion for the fiscal 2008-09. The next five years are going to see some of the fastest growth, and even if we grow at 9% for the next 5 years, a very modest minimum given macro economic spending plans, removal of caps on equity flows and industrial activity, we will still have reached a GDP of $2 trillion by 2015. Btw, a 'fiscal revaluation' is coming. Just as the several China have had, after its tax reform.

S.K' GDP was 1.1 trillion USD in 2008,which was the 2015 aim of Guandong .

Due to the davaluing of Won, SK's nominal GDP shrinked by 20%.

 

[Daredevil]

Core industries' output zooms 7% in Oct

 

[Rage]

S.K' GDP was 1.1 trillion USD in 2008,which was the 2015 aim of Guandong .

Due to the davaluing of Won, SK's nominal GDP shrinked by 20%.

Indeed. And your point?

India went through the same period of recessionary activity, and experienced its effects on its economy.

The fact that the won weakened by such record levels, should tell you something about the fundamentals of the Korean economy and the impact the crisis has had on insitutional confidence in the Korean currency, investor confidence in its stock markets and in Korean current account deficits.

That should tell you something about the trends in the next five years, as it should also tell you something about the relative resilience to exogenous shocks.

Guangdong's GDP target, happened before 40,000 factories closed during the recession, should no doubt have revised itself. Unless, ofcourse it is either being stimulated or fudged.

 

[kickok1975]

Badguy2000, I don't think I agree with your comments and the way you respond here.

This is a post for India's economic progress, not a contest between India and China. And you made it look like it. With all dual respect, it's an irresponsible behavior.

India's growth rate might be slightly slower than us, but they are fast catching up. Who knows what next 20~30 years would be? China may continue lead or fall behind. And when considering the tremendous cost we had paid, I feel less to be proud of our GDP.

Regarding South Korea, I think India's GDP will be much bigger in next 10-15 years. Size matters and India has considerable potential yet to unleash

 

[badguy2000]

Badguy2000, I don't think I agree with your comments and the way you respond here.

This is a post for India's economic progress, not a contest between India and China. And you make it look like it. With all dual respect, it's an irresponsible behavior.

India's growth rate might be slightly slower than us, but they are fast catching up. Who knows what next 20~30 years would be? China may continue lead or fall behind. And when considering the tremendous cost we had paid, I feel less to be proud of our GDP.

Regarding South Korea, I think India's GDP will be much bigger in next 10-15 years. Size matters and India has considerable potential yet to unleash

everybody has its right to express the opinion in his own way.I don't think that it is necessary that I should expess my opinon in your way.

So, pls stop such commanding preach as if you were standing on the moral high ground.
I don't buy it!
you go your way , and I go my way!

Besides, any ainticaption of the case in over 10 years would be compelte nonsense.

So, I always never take it such long-term anticapation too seriously!

 

[anoop_mig25]

i live in mumbai and once upon a time in mumbai onion was Rs 8/kg and it now cost Rs50/kg . whats use of such growth when a common finds hard to even buy vegetables like onion . a common housewife has think unnumber of times before buying vegetables what to but form where to buy etc etc.....

in older times vegetable vendor were sweet heart and were ready to barging and now hell current rot are harsh and they wont budge form market price replying take it or leave it .and reason for their reply there are buyers for it.

whats use of such growth when only few section of people are rising while rest of society remain where they where, this growth is pinching us.

all this talk of GDP growth is nothing but eyewash . there is not growth but uncontrolled increase in price (in name of increase in consumption). whoever may be in government they are not going to do it because it shows in increase in GDP .
and this is truth whether like it or not :angry_10: