India headed for a deep recession - GDP growth slows to 5.3% in Q4, slowest since March 2003, Rupee heads to Rs57 to a dollar
Balaji Reddy
May 31, 2012

Indian educated middle class faces high unemployment. The poor have started starving. The politicians keep looting. The rich industrialist and India Inc. sponsors still enjoy preferential treatment.

The country's economy grew by 5.3% in the fourth quarter of 2011/12 fiscal year, the slowest since March 2003, according to Thomson Reuters data, and well below analysts'' forecast of 6.1% growth. For the whole fiscal year 2011/12, the GDP growth slipped to 6.5% from an earlier estimate of 6.9%, the government data showed on Thursday.

Indian Rupees fell to Rs. 56.70 for a dollar. Currency traders expect no intrinsic market support till Rs. 70 to a dollar. Indian Reserve bank is helpless. It can only smoother the path of decline.

India headed for a deep recession - GDP growth slows to 5.3% in Q4, slowest since March 2003, Rupee heads to Rs57 to a dollar
Balaji Reddy
Indian educated middle class faces high unemployment. The poor have started starving. The politicians keep looting. The rich industrialist and India Inc. sponsors still enjoy preferential treatment.
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