India's slowest growth in a decade could be worse than anticipated, as preliminary data released on Thursday showed the economy set to have grown 5 percent in fiscal year ending next month, underscoring the urgent need for reforms to boost growth. Data released by the Central Statistics Office (CSO) on Thursday showed the economy is estimated to grow by 5% in 2012-13, sharply below the 6.2% posted in the previous year and below the estimates of the finance ministry and the Reserve Bank of India which ranged from 5.5 to 5.9%. This will be the slowest pace of growth since 2002-03 when the economy grew by 4%. Provisional estimates showed the farm sector is likely to grow 1.8% in 2012-13 compared to a 3.6% expansion the previous year, while the manufacturing sector is seen expanding 1.9% compared to 2.7% growth in the year-ago period. Even after the dismal performance of the all sector of economy government is hopeful of reviving the economy by year end. Now we just want to ask a simple question - Does Govt. have any revival plan for economy or spent next 1 year in Selling Profit Making PSUs like ONGC, NTPC, SAIL, Engineers India and other PSU (Govt. Enterprises).
0 comments:
Post a Comment