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Strategies & Market Trends : India Stocks
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From: Micawber6/24/2008 6:43:53 AM
   of 2517
 
FACTBOX-Shine comes off India's economic "miracle"
Tue Jun 24, 2008 12:48am EDT

NEW DELHI, June 24 (Reuters) - India's economic "miracle" is being examined more critically, as inflation hits a 13-year-high and growth is expected to tail off.Economists say the problems underline the dangers of complacency about the country's economic potential.

Here are some of the key economic and market indicators which have left investors questioning the euphoria over India.

REAL ECONOMY

* Wholesale price inflation hit a 13-year-high of 11.05 percent in the 12 months to June 7.

* Gross domestic product growth is strong, recording an annual pace of 8.8 percent in the January-March quarter, but is expected to slow gradually.

* The government aims to cut the fiscal deficit to 2.5 percent of gross domestic product, but analysts say that target is unlikely to be met due to a farm debt waiver, fuel tax cuts and a pay hike for government employees.

Off-balance sheet borrowing and state government deficits mean the real deficit is much higher, up to 9 percent of GDP.

* India's trade deficit widened to $9.87 billion in April, with costly oil outweighing robust growth in exports. Analysts expect the trade deficit to widen to $100 billion in 2008/09, from $80 billion in 2007/08. Continued...

reuters.com
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