India News : Immense pain ahead as GDP growth slumps further to 4.4 per cent

  • 5 years ago
India News : The first quarter GDP numbers for 2013/14 come as a crude reality check. GDP growth is down to 4.4 per cent. There is immense pain ahead.

Manufacturing, the backbone of the Indian economy, shows negative growth, it is down 1.2 per cent compared to the same quarter last year. This is a near 20-year low. India was manufacturing more in the 1980s than it is today while its population has nearly doubled since. Where will the jobs for the millions of young Indians, the great demographic dividend, come from?

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