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If you mean the stock market is going to be stuck for a while, I agree.
After rising(the BSE Sensex) from 2905 in end April, 2003 to 6250 in early Jan, 2004, a correction was expected and is happening.
The economy, however, is doing very well, thank you very much. Whether this year(2004/5) our GDP growth rate will exceed 8% is to a large extent dependent on the monsoons. A good monsoon would guarantee 8%+ growth, an average one would mean 6.5%+ and a bad one would still mean 5%+ growth !!!
Ofcourse, we have a loonnng way to go...we are under no illusions...and we will get there...in due course ;-)
Cheers,
Carlos.
PS--For the financial year 2003/2004, India will have achieved a GDP growth rate of 8%+, without any fudging ;-)...that's my bet. Figures should be out by end May, latest.
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