Economic deceleration on expected lines: Planning Commission

I am away from Newswires for a while now and it is a relief.

Otherwise, how does one expect to react reading such statements from PlanCom chief Mr. Montek S. Ahluwalia. He reacted to the recent reading of GDP growth at 4.4%. It is lower than the shock India got in Q3 2008-09 during Lehman crisis.

So Montek says:

The Planning Commission today said the deceleration in economic growth in the first quarter was on expected lines and it may improve in the second half of the fiscal.

“Well, we were aware that the growth rate has been slowing down. We never felt that in the first quarter there was much sign of an improvement…And it’s in the second half of the year that we might see an improvement,” Planning Commission Deputy Chairman Montek Singh Ahluwalia said reacting to the first quarter GDP figures for 2013-14.

Realllllllllyyyyy Sirrrrr!

I thought we were told that economy would recover from 2013-14 onwards. Or wait was it 2012-13 and by now we should be heading to our potential growth…

I mean so is PCom becoming more realistic? Earlier we were told that these low growth numbers were short-term and now it expects lower growth in every quarter..  NWires should poll PCom guys as well to match expectations with actual nos…

PM Dr. Manmohan Singh rubbished GDP growth could touch 3%. Well as per expenditure method it already is 2.4%! We were told growth rates of 5-6% were not true and then it reached there. And now for 3%. Some vicious cycle we have gotten ourselves into.

 

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