Prospects for the Indian economy

Abstract

On 29th November, 2012, the Central Statistical Organization (CSO) came out with an estimate of 5.3 per cent growth for the Indian economy during the second quarter (July-September) of the current fiscal year against the 5.5 per cent growth during the first quarter (April-June). The quick estimate of 5.4 per cent growth of real gross domestic product (GDP) for the first half of the current fiscal year is not a very encouraging figure, though the stock market has taken it favourably. This is because the market might have perceived it as the lower turning point of the current slowdown. At this juncture, addressing questions about the prospects for the Indian economy in the short term, medium term, and long term is critical for individual business and collectively for the national developmental aspirations.