Thursday, February 25, 2010

Will India go back to High Economic Growth in 2010?

Now, Indian ministers are very busy with the upcoming budget. The current fiscal year is going to finish on 31 March 2010 and the 2010-11 Fiscal year is going to start from 1 April. So, a bad year is coming to end and there is a sense of optimism that the next year will bring back the high economic growth. Like most countries, India also suffered from the global recession. Now, there is hope that 8% GDP growth may take place in the next fiscal year.
During 2005-2008 time, Indian economy saw fast growth and many foreign companies came here to take advantage of the growing market. So, I am hoping the same for the next one year. However, what is becoming a growing concern is inflation. Price of food items is increasing rapidly and the ordinary people are going to suffer.
Indian government is perhaps helpless against inflation because it is very difficult to control the market. Many factors work in a free market economy.
It is perhaps time that ordinary people start to think about the economy more seriously. Of course, they cannot become experts but they surely can think of decreasing consumptions of certain items that are in high demand. They surely can decide to waste less in wedding and other kind of parties. 

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