In the first quarter of the current fiscal year,April-June,2013,the
GDP (Gross Domestic Product ) growth has.decelerated furthur
to 4.4 per cent.
This is the slowest pace of expansion since the financial crisis in
2008..GDP Growth was 5.4 per cent in the first quarter of the last
financial year.
It is a steady slide in economic growth as the GDP growth had
slided to. 4.8 per cent in last quarter of the last fiscal.
The depreciation of the rupee had alarminly gone down to
68.85 against the dollar and the central government could not
give a convincing explanation.Insted,the finance minister P.
Chidambaram and Reserve Bank Governor Subba Rao are engaged
in a blame game.
The vast majority of the people,the common and poor are the worst
sufferers and still Prime Minister Manmohan Singh and finance
Minister Chidambaram shamelessly declare that they will go ahead
with more strigent economic reforms!