AS compared to earlier years the year the last two years, that is 2008 and 2009, have not been very good for Indian economy. Like rest of the world India also faced a recession and economic downturn during these two years. However, the worst of recession perhaps got over somewhere in the beginning of 2009 and things began to look up after that. As per current estimates the economy in 2009 will end up with a positive growth rate of about 6 to 7 percent, which is much below the targets set earlier.
Major problem face in 2009 has been that of agricultural production and hefty increase in prices of food items. For many of the common food items including sugar the prices have doubled in last one years. Increase in prices of vegetables has been even steeper.
In the field of science and technology India has been making steady progress for last many decades, the performance being neither spectacular not all that bad. In 2009 there were no indication of any major changes in these areas, However, one notable development that has drawn worldwide attention is the ultra small car, with a price tag of $2000 to $2500 developed by Tata Motors of India.
India's foreign policy has also been quite consistent over last many year, however the signing of nuclear deal with USA is considered to be controversial.
Before closing, I would like to express my views on some of the points in previous post. First, the efforts to obtain cooperation of Pakistan to control terrorism are not new for India. Unfortunately, response of of Pakistan continued to be elusive in 2009, as it has been in the past. There has been no appreciable change in this respect. Also launch of Chandrayan - I, is just one more step taken by fairly successful Indian Space programme. It is definitely impressive, but it is not something that is very unusual for Indian Space Programme.
No comments:
Post a Comment