.......To expect the growth rate to travel sharply upwards from here is, however, to be more optimistic than what the data warrants. The 5.3 per cent GDP growth rate for the second quarter of 2012-13 means the economy has grown at just 5.4 per cent in the first six months of the year. To reach the RBI projected 5.8 per cent growth rate for the year means the economy would have to clock an average of 6.2 per cent in both the December and March quarters. On the way, it will have to counteract the recessionary conditions in Europe and a US economy swinging between recovery and another recession............
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