Posted on 05/27/2013 4:51:16 AM PDT by TexGrill
NEW DELHI- The Indian economy is likely to have grown at a mere 5% in the financial year that ended in March, the lowest growth rate in a decade; investments are falling and the fault lines of Indian politics lie fully exposed.
With the government embroiled in a numerous corruption cases, leading to a sense of policy paralysis gripping the economy, business confidence has been on the wane.
India's shinning story of a decade back has lost plenty of sheen of late due to growing frustration at a rising governance deficit. The
very fact that the Indian economy is expected to grow at close to 6% during the current financial year and close to 7% in the next (a far cry from 8% to 9% growth predicted a few years back) indicates how short-term expectations have been whittled down.
However, like China, India is still considered to be one of the world's rising economic powers. But, while the Chinese growth story has the authoritarian state to thank for it, the forward march of the Indian economy has been impeded by the ineptitude of the state.
After growing at over a double-digit rate for decades, China is now on the throes of a slowdown caused by over investment and under consumption, though its state-of-the-art infrastructure can be cause for envy. India, on the other hand, suffers from woefully inadequate infrastructure as the financially challenged government cannot invest while the morally and politically challenged government fails to clear away hurdles against private investment.
(Excerpt) Read more at atimes.com ...
Don’t worry. If their economy slows down, they can simply join their families in the US and UK and find work there.
I'm guessing that if you're "connected" into the oligarchy, you have far fewer issues with having to pay bribes, and so this would serve to perpetuate the power of the existing oligarchic families against competition from below.
Welcome newbie, please do not be in such a rush to post articles that you post several with different sources but the same information, IOW - go look at what you have posted and look at all of the posting errors, ie different story but the pasted in text is the same as the one you just posted 5 minutes before.
Corruption also contributes to poor infrastructure, which has also kept India back.
India is not the menace to us that China’s government is, of course, and so I root for them to have continued success and get their governance in order.
(Unfortunately, Indian immigrants tend to come vote for the socialist corruption over here—hello, Barry!—that has held them back over there.)
The Indian-Americans that I know here in The U.S. contribute mightily to our economy. And they vote for conservatives who’s policies allow them to keep more of the money that they earn.
If that’s true, there’s 1 billion Indians: “Welcome to the USA, vote early and vote often, so long as you vote Republican, but don’t vote for Gov. Chris Christie, Sen. John McCain, Sen. Lindsey Graham or Sen. Marco Rubio, since those folks don’t count as real Republicans.
I just saw the home page. When posting articles, I post different texts in each body thread section. Not sure how this mistake happened. I sent message to administrator yesterday to say they made this mistake with my Sister Acts posting.
Free Traders and Globalists always cheerlead India as some economic marvel.....when in fact India is stll a Bottom Third nation in economic and development .
All the American jobs shipped to India in the past decades has done little to grow their economy.
Free Trade and the Global economy does not work....and there is no proof it ever has
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