A slower growth rate for India, may mean good news for Goa with slower "development" (less mining, less mega-projects, less casinos). Although the article says a slower growth rate means fewer people coming out of poverty, keep in mind, India's recent boom did not lift 300 million people in poverty living on less than $1 a day - growth just passed them by and seems to have benefited only the middle-class and rich.
Additionally, I don't know if the 5.3% growth rate in the article below is correct since I don't know if the number is manipulated. When I say numbers are manipulated, my theory is generally when governments announce good news, the number should be halved, when they announce bad news, the numbers should be doubled. So a 5.3% growth rate is really closer to 2.65%. Say they announced a 6% unemployment rate, then the real number is closer to 12%. Take China for example, who audits their "official" 8% growth rate number? Some Communist party bosses decide that is the number. If the Chinese economists disagree, they can expect prison time and if lucky will be alive in prison and not a become an (involuntary) organ donor. What is unfortunate is that investors around the world, including large institutions make investment decisions based on these numbers. I have been to many meetings where government numbers are repeated without anyone questioning their authenticity. My take-away: always be skeptical of government numbers including USA govt. which has more transparency than most but is still subject to "photoshop accounting". --- On Fri, 6/8/12, Gabe Menezes <gabe.mene...@gmail.com> wrote: > Farewell to Incredible India Bereft of leaders, an Asian giant is > destined for a period of lower growth. The human cost will be immense > > Jun 9th 2012 | from the print edition > > IN A world economy as troubled as today’s, news that India’s growth rate > has fallen to 5.3% may not seem important. But the rate is the lowest in > seven years, and the sputtering of India’s economic miracle carries > social costs that could surpass the pain in the euro zone.
