India Economy and Care Ratings

government attempts: Seven percent growth would be fast by the standards of almost any other economy, but some analysts claimed the latest GDP figures indicated the government attempts to push India economy onto a sustained high-growth trajectory may be faltering, according to Deutsche Welle. Nearly half of India 1.25 billion people are under 25, and the population is growing by 1.22 percent annually "The GDP number shows there is no take-off in any of the key sectors of the economy," Madan Sabnavis, chief economist at Care Ratings, told AFP news agency. "The high government spending which was expected to provide the boost isn't being reflected in the numbers." India government changed the way it calculates GDP in January. But that was down slightly from 7.5 percent GDP growth in the previous quarter, and lower than the median forecast of 7.4 percent growth in a survey of economists by Bloomberg News earlier this month. It now uses a revised formula for the calculation, with officials saying the new method conformed more closely to international standards Modi magic fading Prime Minister Narendra Modi won a landslide election in 2014 on a promise to reform and revive the Indian economy and create millions of jobs for the burgeoning population of young adults. 0:00:00 0:00:00Modi-fied India in upbeat mood However, many of Modi proposed reforms have stalled in India parliament, where his Bharatiya Janata party lacks a majority. There a backlog of about 700,000 unsold homes. One sign that India economy isn't as robust as had been hoped is a slowdown in the real estate development sector. (news.financializer.com). As reported in the news.