NEW DELHI (Reuters) – India’s economic growth slumped to its lowest level in nine years in the first three months of 2012, marking a dramatic slide in the fortunes of a country whose economy was boasting nearly double-digit growth before the global recession.

“Urgent and bold steps are immediately needed to prevent the economy from descending into a full blown crisis. This must be averted at all costs,” said Rajiv Kumar, secretary-general of the Federation of Indian Chambers of Commerce and Industry.

NEW DELHI (Reuters) – India’s annual economic growth slumped in the January-March quarter to a nine-year low of 5.3 percent as the manufacturing sector contracted and a fall in the rupee to a record low suggests the economy remains under pressure in the current quarter.

The growth rate was much lower than expected and was even below the lowest forecast in a Reuters poll that had produced a median of 6.1 percent from predictions ranging between 5.5 percent and 7.3 percent.

NEW DELHI, May 31 (Reuters) – India’s annual economic growth
slumped in the January-March quarter to a nine-year low of 5.3
percent as the manufacturing sector contracted and a fall in the
rupee to a record low suggests the economy remains under
pressure in the current quarter.

The growth rate was much lower than expected and was even
below the lowest forecast in a Reuters poll that had produced a
median of 6.1 percent from predictions ranging between 5.5
percent and 7.3 percent.

JALANDHAR, India (Reuters) – Buried in recent monthly data for wholesale prices in India, the wild gyrations of a humble vegetable tell the tale of an economy trapped in inflation by its own rigidities.

Back in December, after a bumper harvest of potatoes, furious farmers dumped tonnes of their crop on roads in protest over a crash in prices: four months later, the annual wholesale inflation rate of the potato is galloping at 53 percent.

May 22 (Reuters) – India is weighing further steps to brake
the slide in the rupee, which hit a new record low on Tuesday,
including selling dollars directly to oil importers, official
sources said.

However, New Delhi is reluctant to issue an overseas bond to
draw fresh dollars given the costs and risks of such a move.

JALANDHAR, India, May 22 (Reuters) – Buried in recent
monthly data for wholesale prices in India, the wild gyrations
of a humble vegetable tell the tale of an economy trapped in
inflation by its own rigidities.

Back in December, after a bumper harvest of potatoes,
furious farmers dumped tonnes of their crop on roads in protest
over a crash in prices: four months later, the annual wholesale
inflation rate of the potato is galloping at 53 percent.

NEW DELHI (Reuters) – “Dear God,” wrote economist Rajeev Malik as he called on the Almighty to help India’s “rudderless” government in a biting critique that underscored a growing frustration at home and abroad with the stewardship of Asia’s third-largest economy.

Writing in India’s Business Standard newspaper, the well-respected Malik echoed the exasperation of Indian and foreign business groups pressing for the government to swiftly implement major economic reforms and formulate a coherent strategy to deal with its mounting problems.

NEW DELHI, May 18 (Reuters) – “Dear God,” wrote economist
Rajeev Malik as he called on the Almighty to help India’s
“rudderless” government in a biting critique that underscored a
growing frustration at home and abroad with the stewardship of
Asia’s third-largest economy.

Writing in India’s Business Standard newspaper, the
well-respected Malik echoed the exasperation of Indian and
foreign business groups pressing for the government to swiftly
implement major economic reforms and formulate a coherent
strategy to deal with its mounting problems.

NEW DELHI (Reuters) – Inflation accelerated in April to 7.23 percent as price pressures for food, fuel and manufactured items all picked up, adding to the RBI’s struggle to control inflation when economic growth has slumped to a near three-year low.

The rise in the wholesale price index (WPI) topped the increase in March’s data of 6.89 percent, the commerce ministry said in a statement on Monday.

NEW DELHI, May 14 (Reuters) – India’s inflation accelerated
in April to 7.23 percent as price pressures for food, fuel and
manufactured items all picked up, adding to the central bank’s
struggle to control inflation when economic growth has slumped
to a near three-year low.

The rise in the wholesale price index (WPI)
topped the increase in March’s data of 6.89 percent, the
commerce ministry said in a statement on Monday.