Vladimír Urbánek (Kurzy.cz)
Macroeconomics  |  February 28, 2013 12:52:03

India - 4Q GDP grew by only 4.5%

India's GDP in Q4 of last year grew by 4.5% compared to 7.9% from 3Q.

Indian Statistical Office at the beginning of February an estimated growth of GDP in the fiscal year ending in March to a level of 5% compared to last year's 6.2%. This year's growth will be the lowest since growth of 4% in the 2002-3 season. The average for the last decade, reaching a level of 8%.

India faces a high growth of inflation by more than 7%, which significantly limits the possibility of stimulating the local economy by the central bank. The last month for the first time since last April cut the main interest ratefrom 8 to 7.75%. Indian currency since the end of Q3 last year grew compared to the dollar by 4%.
The stimulation of economic growth is mainly old government, among other things, certain sectors like retail and aviation production more open to foreign investors. The government also plans to decrease the levels of foreign investment in pension funds and insurance. The government has also established a committee whose task is to explore the scope for more growth investments in infrastructure.

The Government intends to end this fiscal year with a deficit of public finance at 5.3% of GDP . The next year it wants to reduce to 4.8%.

According to World Bank estimates, more than two thirds of India's population daily income below 2 USD .
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