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The Indian Economy Is A Wreck: These Charts Show What's Going Wrong
We've written about India's fiscal problems, but what's behind the slowdown?
Drawing on a report by HDFC Securities' analysts Sameer Narang and Vishal Modi we pulled together 8 charts to show the deceleration in the Indian economy.
India's GDP grew 5.3 percent in the fourth quarter falling to a seven-year low
And the slowdown has been sharp in the last four quarters, with GDP slowing from 8 percent in June 2011 to 5.3 percent the last quarter
HDFC has revised down their 2012 growth rate for India to 6.5 percent driven by lower growth in industrial output and the service sector
Agriculture which accounts for about 16 percent of GDP has also slowed down
Services slowed to 7.9 percent in the fourth quarter led by slowdown in trade, hotels, transport and communication sub‐sector
Given high interest rates and weak external and internal demand industrial production is expected to stay soft
Manufacturing plunged to 2.5 year-over-year (YoY) growth in FY12, down from 7.6 percent the previous year. It is projected to grow 3 percent in FY13
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