There appears to be some optimism at least within our small community of financial market economists that growth seems to have bottomed out. The next financial year, 2013-14, is likely to post somewhat better numbers for GDP growth than the median forecast of 5.5 per cent for the current fiscal year. This optimism seems to be based on a number of things: the government finally shaking off its policy funk, which could both improve overall business sentiment and get public sector projects going; the likelihood of the Reserve Bank of India lowering interest rates in response to a moderation in inflation; a marginally better external environment and so on. I have a similar view and see no reason to take a contrarian stance. However................
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