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Indians losing faith in the economy: Study

The Indian public's confidence in their economy and government has plunged in the last year, according to a US study published as the country battles galloping inflation and slowing growth.

Although Indians are still more positive about theirsituation than Europeans or Americans, their confidence in the country'sprospects has fallen sharply since 2011.

"In a world where the Americans, the Europeans and eventhe Chinese have reason to worry about their economies, it is the Indians whohave lost the greatest faith in their economic fortunes," said the PewResearch Center study published on Monday.

Just 49 percent of the 4,018 Indians questioned by thecenter said current economic conditions were good, reflecting a7.0-percentage-point decline since 2011 when 56 percent of those surveyed saidthe economy was doing well.

Only 45 percent of Indians believe that the economy willimprove in the next 12 months and just 38 percent said the country was headingin the right direction, down from 51 percent last year.

In the US, satisfaction levels were low but more than 52percent said they expected the economy to improve in the next 12 months,compared with 25 percent of Europeans.

In China, 83 percent of people said the economy was good andwas poised to become even better in the next 12 months, while fellow emerginggiant Brazil had similar levels of optimism.

India's once-booming economy grew by just 5.5 percentbetween April to June -- its slowest expansion in three years. Inflationremains stubbornly high at nearly seven percent.

A spate of political corruption scandals have also souredthe national mood, with the parliament currently deadlocked due to protestsover a new scandal involving the allocation of coal mining licences.

Nearly two out of every three Indians surveyed said theywere pleased with their personal financial situation, in contrast to theirfeelings about the national economy.

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Cuba rejigs its creaky economy

The Communist island loosens up a little. Here’s why.

Global Post/For The Goan
Published Sep 22, 2012, 7:47 AM IST
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Cuba rejigs its creaky economy

Often in the pages of Granma, the red-and-black-inkedCommunist Party newspaper that is a daily presence in Cuban life, there is astandard sort of feature article about the island’s economic troubles.Sometimes it’s a story about bread. Other times bus service,or tires, or the sugar harvest. But the theme is generally the same: workers ata Cuban state-run company struggling to meet production quotas and publicdemand because of supply shortages, broken equipment and a “lack…

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