The Indian budget for 2010/11 is being presented against a background of optimism – the impact of the financial crisis on the Indian economy is waning; the growth rates of gross domestic product in general and of the manufacturing sector, in particular, are picking up; and there is an expectation based on strong fundamentals that the economy will return to a growth rate of over 7 percent in the next year. However, it is too early to rejoice as the challenge of high poverty levels continues to dent all achievements on the growth front.
(Source: The Wall Street Journal Online)