High on optimism

Since touching a little over eight per cent in October-December 2010, India's GDP growth rate has slowed in the subsequent four quarters to 7.8, 7.7, 6.9 and 6.1 per cent, respectively. But despite this pattern of “monotonic decline”, the Finance Ministry's Economic Survey is confident about a turnaround happening in 2012-13, i.e. the year beginning next month. The Survey sees growth improving to 7.6 (+/-0.25) per cent in 2012-13, from the estimated 6.9 per cent for this fiscal.

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