• Economic slump has bottomed out – expect slow recovery ahead
• 2009-10 growth forecasts will be revised upwards by most as the year progresses
• Expectations of global growth resurgence fuels commodities and crude prices
• Dollar dives, rupee surges to 47 - more trouble for exporters ahead
• Fuel price deregulation on the cards
• But all is not well – and overheated stock markets need to cool a bit
India: Kal, aaj aur kal
The numbers all seem to be looking up, the stock markets all seem to be rising once again, and cheer is back. There is spring in the air. One wonders what happened suddenly to make everything so nice. Anyhow, things as predicted are improving – largely because of heavy government interventions internationally. The lower interest rates in India are also starting to have their impact – this was all predicted, as interest rate reductions take some time to play out. But what is also predicted is that things will take a few months more to stabilise - we estimate growth for this financial year to be an unexciting 6.6%.