The GDP growth forecast continues to remain grim. The economic growth for the January-March quarter-was reported to have been 5.3%, the lowest ever during the past nine years. Recently RBI had also lowered the GDP growth forecast to 6.5% for the period 2012-13 and raised the WPI inflation to 7% for March 2013. The industrial growth during the period April & May 2012 was also very weak with IIP growing at just 0.8%. Overall the other economic indicators like investment, inflation, fiscal deficit, current account deficit and WPI present a very dismal picture for the country.
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