No economic recovery in sight for now

There are by now a fairly large number of estimates for GDP growth in 2013-14. The Economic Survey gave a range of between 6.1-6.7 per cent with the budget probably using 6.5 per cent.  The Prime Minister's Economic Council has lowered its estimates to the still improbable 6.4 per cent and the RBI has come out with its own lower forecast of 5.7 per cent. This is the same as that of the IMF. The ADB has estimated GDP growth in 2013-14 at 6 per cent and domestic think tanks and industry associations have come up with a range of estimates between 6.0 and 6.4 per cent.

Read Full Story>>