Severe stagflation is reality in Indian economy, India follows America in economic down fall
Sitha Rajan
Jul. 12, 2008

Indian economy has started behaving the way American economy was looking a few years back. The Indi Inc. business model has failed just like America Inc. business model. Following American economic footstep ( by western surrogates like Manmohan Singh and Chidambaram) has created the stagnation in economy and severe inflation.

The industrial growth fell to a disappointing low in May and wholesale prices inched higher, leading the finance ministry to warn that double-digit inflation was here to stay till the end of the year.

India’s economic down fall is now confirmed as the global rating agency Standard and Poor's suggested it might lower India's sovereign rating of BBB- (investment-grade status) due to the country's deteriorating credit profile over the last 12 months.

The Index of Industrial Production (IIP) growth for May slowed to a six-year low of 3.8 per cent against 10.6 per cent in the same month last year. The April numbers were also revised to 6.2 per cent from the earlier 7 per cent estimate.

Inflation raced to a fresh high of 11.89 percent for the week ended June 28, on the back of surging food and commodity prices. The 10 year benchmark yield crossed 9.5 percent.

Inflation is expected to touch 11.9 percent in the week ended July 04, 2008. This is the 20th consecutive week that the inflation rate has been above the 5.5 percent mark, the central bank's target for the end of the fiscal year in March 2009.

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