This slowdown is for real ; There are now unmistakable signals that the Indian economy is losing steam. All indicators seem to point towards a slowdown in the offing.

There are now unmistakable signals that the Indian economy is losing steam. All indicators seem to point towards a slowdown in the offing. The Central Statistical Organisation (CSO), in its advance estimates for 2007-08, expects GDP to grow 8.7 per cent for the full year. It implies that during the second half of this year, the economy will grow at 8.4 per cent compared to 9 per cent in the first half.

The CSO's fresh projections are disturbing. It shows a drop of about one percentage point in GDP growth rates this year (last year's figure was 9.6 per cent). The current year's estimate is the ...

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