Tuesday, June 30, 2009

Can Indian Economy Bounce Back in Rest of 2009?

Tomorrow is 1 July 2009. Six months have already passed from the year and now there are 6months left. For Indian economy, it has been a tough time. Economic recession had its bad impact and many people lost job in export sector. My co-blogger Mehdi Hassan has written about the miserable condition that the workers have been facing in the diamond industry. I covered a lot about Satyam scandal and bad time in outsourcing industry. We also wrote about Obama’s negative attitude towards outsourcing. Monsoon rain did not come in time and less rainfall may cause some serious damage for the agriculture sector.

So, what may happen to the Indian economy in the next 6 months? There is a new government and this government is a stable one as the Congress Party and its alliance parties got enough seats in the election. I don’t think that the economy can recover this year. The global economy has little hope either. May be the worst is over but to go back to pre-recession condition, it will still take some more time.

1 comment:

  1. The World Bank had recently said India would grow 8.1 per cent in 2010, ahead of China (7.5 per cent). The numbers in the survey also suggest India is finally ready to rub shoulders with its northern neighbour.