GDP growth falls to 5.3%

The overall gdp growth has now fallen down to 5.3%. This is purely an impact of the global slowdown that has effected the country's gdp as well. All the industries related to service are affected very badly by this.

The RBI should now take immediate action. Reduction in the intrest rates is likely. Both the repo and the revere repo rate should be reduced by atleast 50 basis for more cash flow in the market.

The agriculture and manufacturing sector is not impacted as much as the service industry and is contributing close to one third of the GDP. However, the service sector of the country is in a bad shape and is in need of some steps to revive it.

Related Posts:

New Industrial policy

oil rate cuts

You can expect many more such measures in the coming few weeks.

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