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Slow Q2 as economy reels under credit crunch, high borrowings – Economy and Politics – livemint.com

New Delhi: India’s economy expanded at the slowest pace in 15 quarters in the three months ended 30 September, reinforcing the case for the central bank to reduce borrowing costs to stoke growth and fend off collateral damage from the global financial crisis and the Mumbai terror attacks.

The economy grew 7.6% from a year earlier in the fiscal second quarter, compared with 9.3% a year ago and 7.9% in the preceding three months, official data released on Friday showed. The pace still exceeded economists’ expectations, reflected in a Reuters poll that had predicted the economy would expand 7.3% and a Bloomberg survey that pegged growth at 7.2%.

via Slow Q2 as economy reels under credit crunch, high borrowings – Economy and Politics – livemint.com

2 comments on “Slow Q2 as economy reels under credit crunch, high borrowings – Economy and Politics – livemint.com

  1. Pingback: » Slow Q2 as economy reels under credit crunch, high borrowings …

  2. sherry
    November 29, 2008

    Not enough credit is being given to the high gas prices this past year and it’s serious damage on our economy and society. That one factor alone has caused serious stress in both individuals and businesses. A record number of homes and jobs have been lost as a direct result. And, while we are doing the happy dance around the lower prices at the pumps OPEC is announcing cuts to manipulate the prices upward again. We must get on with becoming energy independent.We can’t take another year like this past. There is a wonderful new book out about the energy crisis and what it would take for America to become energy independent. It covers every aspect of oil, what it’s uses are besides gasoline, our reserves, our depletion of it. Every type of alternative energy is covered and it’s potential to replace oil. He even has proposed legislative agenda’s that would be necessary to implement these changes along with time frames. This book is profoundly informative and our country needs to become more informed and move forward with becoming energy independent. Green technology would not only provide clean cheap energy it would create millions of badly needed new jobs. The Book is called The Manhattan Project of 2009 Energy Independence NOW. Our politicians all need to read this book. http://www.themanhattanprojectof2009.com

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