Global recession is not the reason why Indian economy is not doing well, it is #Congress led UPA

Global recession is not the reason why Indian economy is not doing well, it is #Congress led UPA.

News on the Indian economy has been worse than even what the pessimists had predicted. According to the advance estimate that was released by the Central Statistical Office sometime back, GDP growth during the second half of 2012-13 is expected to be just 4.6%. This is one of the worst growth performances of the Indian economy in the post-reform era.

The UPA had inherited a robust economy with the GDP growing at 8.5% in 2003-04. Absent a miracle, it will now bequeath its successor government an economy at its weakest in many years. This debacle in growth performance has brought India sceptics back to surface.

Having been proven wrong by the high growth during the 2000s, they have returned to argue that the latter was an aberration, driven by a good global economic environment, low inflation and high savings rate. But the India sceptics who are dismissing economic prospects are either unaware of the full growth experience during the 2000s or are wilfully ignoring it.

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