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As seen from the report of RBI the Indian Economy is still in a mood of puzzle. India`s Industrial output has come down to a low economic downturn which is uncommon in the past 15 years. Another unhappy report has come out from the Central Statistical Organization (CSO) that India’s industrial growth rate shrank by 2.3% in March09 as against it was 5.5% in the same period last year. It is a matter of serious concern.
The production side, particularly the metal and alloys have shown a deep deceleration which leads to sluggishness in the investment markets. It is a matter to be worried. Therefore, our Prime Minister Dr. Manmohansingh had a serious discussion with key economist in the meeting held on 12-May-09. The meeting was concluded with a positive note that the announcement of the Government in reducing the banking lending rate would push the investment in large and thereby make the Indian Economy steady. Let us also be hopeful.
Good one!
An eternal optimist that I am I do hope these moves stabilize our economy.
Incidentally there is an interesting website that is specifically dedicated to recession victims.It offers help and discusses all issues related to recession- http://www.angstcorner.com. It’s worth a visit!