Healthy recovery

Article Abstract:

The economic restructuring efforts in India may result in a real GDP growth rate of 3.5% for FY 1992 to 1993. Analysis of economic indicators shows that infrastructure, rather than manufacture, is leading the industrial productivity efforts and that deregularization makes the goal of keeping the fiscal deficit within 5% of the GDP attainable. The slow performance of the export sector, resulting from the breakdown of the rupee-based trade with the former USSR, may improve with the implementation of market-set exchange rates.

Statistics, Economic development

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Spinning out of control

Article Abstract:

Many of India's public companies are in disastrous shape and the entire sector will probably need wholesale reform in the immediate future. Some 40% are losing money and few if any have sizable profits; many compete against thriving private firms with a global presence. The govt took most over to prevent unemployment and unrest, but the few hundred thousand jobs saved cost millions of potential new private-sector jobs. Management has little authority and the national Parliament shows little taste for privatization.

Privatization, Privatization (Business), Government business enterprises, Public enterprises

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Let there be rain

Article Abstract:

Investors appear cautious about India's fragile economy despite a number of positive signs. Inflation, down from a 12% pace, remains near 10%, perhaps due to poor supply-side inflation control. The govt has, however, lowered excise taxes and custom duties and raised prime lending rates from 14% to 16%. The stockmarkets remain down 25%, and foreign direct investment should reach $1 billion this year, down from 1993-94. The rupee may slide against the dollar later in 1995, aiding exports.

Economic indicators

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