While growth is slowing down, the options before the government are limited.
Swastika Investmart has come out with its report on Union Budget 2012-13. As per the research firm India’s GDP growth in 2012-13 expected to be 7.60%.
Part of the reason why the market witnessed volatility yesterday could be because of the weak GDP numbers which came in. Richard Jerram, chief economist of Bank of Singapore tells CNBC-TV18 that India's GDP growth is close to bottoming out.
CRISIL Research has lowered India’s GDP growth forecast for 2011-12 to 7.0% from its October estimate of 7.6%.