Indian Economy Watch: January 2005

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Tuesday, January 11, 2005

Indian economy on right track

The Indian government released the second-quarter GDP (gross domestic product) numbers on December 31, virtually unnoticed in the aftermath of the devastation caused by the tsunami. Economic growth, according to the figures released by the government, slowed to 6.6% during the second quarter ended September from 7.4% in the previous quarter due to a negative growth in the agriculture sector, once again reflecting the Indian economy's dependence on the vagaries of monsoon. The agricultural slowdown was so pronounced that even the robust performance of the manufacturing sector - 9.3% against 8% in the previous quarter - failed to contain the fall in overall GDP growth.

Monday, January 03, 2005

Analysts say Tsunami not to impact Indian economy

The deadly weekend tsunami will have no impact on the Indian economy because it did not hit any major sectors driving the economy and most areas devastated were inhabited by fishermen.

Private economic think-tanks and industry groups have pegged the total cost of reconstruction and relief at 20 billion rupees and analysts say Asia's fourth-largest economy will be able to meet the costs comfortably.